The move marks the first overseas foray for Xiaomi's cars, which have proved enormously popular in China and wowed Western auto executives.

Premiumization strategy accelerates, fueling strong growth across smartphones, smart EVs, and smart home appliances Beijing, Hong Kong, August 19, 2025 —

Xiaomi delivered a strong performance in the second quarter of 2025, underscoring its rapid transformation into a more diversified technology company. Growth in its EV, AI, and new initiatives businesses helped the company offset continued weakness in its core smartphone segment.

A rise in shipments of smartphones, especially in Southeast Asia, helped to boost Xiaomi's second-quarter revenue by 30.5%, the smartphone and EV company said on Tuesday, against the backdrop of a sluggish global market.

Xiaomi’s second-quarter numbers just came out, and they’re not what the market expected—they’re bigger. The company’s revenue jumped 31% year-on-year, hitting 116 billion yuan ($16.2 billion), which narrowly beat analyst predictions of 115 billion.

Xiaomi's advanced electric sedan is grabbing headlines on the track and in the streets. The SU7 Ultra recently secured the title of fastest production electric vehicle (EV) to lap the Nurburgring Nordschleife.

Xiaomi plans to enter Europe’s EV market by 2027 and compete with Tesla and BYD. The company expects its car division to become profitable by the end of this year. BMW and F1 veterans have joined Xiaomi to develop its new European R&D center.