Xiaomi's only been a carmaker for a year—and it's already selling more cars than EV startups that have been in the business for years.
The company's 2024 earnings, its first set of annual results as a bona fide carmaker, show that founder Lei Jun’s big EV bet is paying off. The company reported 365.9 billion Chinese yuan ($50.6 billion) in 2024 revenue, a 35% jump. Xiaomi reported strong growth on the top line, too, with 27.2 billion Chinese yuan ($3.8 billion) in adjusted net profit, a 41% increase.
