Xiaomi Auto Achieves 500,000 Vehicle Production Milestone in Record Time

Xiaomi celebrated the production of its 500,000th vehicle on November 20, marking the fastest time any new energy vehicle manufacturer has reached this milestone globally. The company accomplished the feat in 602 days, or under 20 months, since launching its first model, the SU7, on March 28, 2024.

Lei Jun, founder, chairman and CEO of Xiaomi Group, attended the ceremony to witness the achievement. He stated that the milestone validates the company's comprehensive capabilities across research and development, manufacturing, sales, delivery, and service, while demonstrating strong consumer acceptance as the business enters a phase of scaled development. Lei revealed that Xiaomi Auto expects to deliver over 400,000 vehicles throughout 2025.

The announcement comes alongside strong financial performance. Xiaomi reported third-quarter revenue of approximately 113.12 billion yuan (US$15.7 billion), up 22.3% year-over-year and marking the fourth consecutive quarter exceeding 100 billion yuan. Adjusted net profit reached 11.3 billion yuan, a historic high, surging 80.9% annually.

The smart electric vehicle and AI innovation business segment generated 29 billion yuan in revenue during the third quarter, soaring over 199% year-over-year. Electric vehicle revenue specifically totaled 28.3 billion yuan. Notably, this segment achieved positive operating profit for the first time, recording 700 million yuan.

Xiaomi Auto delivered over 260,000 vehicles in the first nine months of 2025, with third-quarter deliveries reaching approximately 108,800 units, a quarterly record. Lu Weibing, Xiaomi Group partner and president, indicated during an earnings call that the company expects to meet its full-year target of 350,000 deliveries this week.

To support growth, Xiaomi has expanded its sales and service network. As of September 30, the company operated 402 automotive showrooms across 119 cities nationwide, alongside 209 service centers covering 125 cities.

Xiaomi continues investing heavily in research and development, spending 9.1 billion yuan in the third quarter, up 52.1% year-over-year. Lei Jun announced that full-year R&D investment is projected to exceed 30 billion yuan, with the research team now comprising 24,871 employees.