Xiaomi EV Business is Shining, Getting More than 10 Percent of its Revenue from EV Segment

Chinese consumer electronics maker Xiaomi’s September quarter revenue was higher than expected. Xiaomi, which has a major share in the smartphone market, had entered the electric vehicle (EV) segment this year. This business of the company is growing rapidly. Xiaomi’s revenue in the last quarter has increased by about 31 percent to about $ 12.8 billion.

According to Bloomberg report, the company’s revenue exceeded analysts’ estimates. The share of EV business in this is more than 10 percent. The company’s sales in the EV segment have been around $1.3 billion. Xiaomi has set a target of delivering 1,30,000 units of its first electric sedan SU7 this year. The company gets a major part of its revenue from smartphones. Apple and Samsung dominate this market. Xiaomi plans to diversify its business through EV. China is the largest market for EV in the world. However, Chinese EV companies are facing difficulties in exporting to the US and Europe due to high tariffs.

Last week, Xiaomi had said that the manufacturing of SU7 has crossed one lakh units. This electric sedan was also showcased in India. This EV has a battery pack of 101 kWh. Its driving range is about 800 kilometers. It is available in two variants – SU7 and SU7 Max. The company claims that it can reach the speed of 0 to 100 km/h in just 2.78 seconds. It has a maximum power of 668 bhp and peak torque of 838 Nm. The price of its standard variant in China is around 2,15,900 Yuan (approximately Rs 25 lakh) and that of SU7 Max is around three lakh Yuan (approximately Rs 35.30 lakh).

SU7 has a 16.1 inch infotainment system. Its infotainment unit also acts as the control hub of the vehicle. The SU7’s sound system has 23 speakers and comes with Dolby Atmos technology. Xiaomi can also bring a larger 150 kWh battery pack for it, which will have a range of up to 1,200 kilometers. These batteries support ultra fast charging with 486V architecture.