Xiaomi revolutionizes the automobile market by shipping over 25,000 units and strengthens its technology leadership with record profits.
Imagine driving for over 12 hours without stopping to refuel, and while it sounds like science fiction, that’s exactly the kind of autonomy that the Xiaomi SU7 electric car offers, a car that has not only revolutionized the automotive market but has also propelled the company to new financial heights in the markets where it is available.
The overwhelming success of the SU7 was reflected in more than 75,000 orders and 5,781 units delivered in less than a month. In the second quarter, corresponding to the quarter ending June 30, 2024, SU7 series deliveries reached 27,307, with monthly deliveries exceeding 10,000 units for two consecutive months.
This is just one example of the impact Xiaomi is having on the industry. This unprecedented demand contributed significantly to the company’s financial results in the second quarter of 2024.
Xiaomi has released its unaudited consolidated results for the second quarter of the year and posted adjusted net profit of 6.2 billion yuan ($869 million), up 20% year-on-year. Total revenue increased 32% to 88.9 billion yuan. The company’s smartphone division, the company’s main source of revenue, earned 46.5 billion yuan, up 27.1% year-on-year, with 42.2 million units sold.
But the growth is not limited to smartphones. The smart electric vehicle business and other new initiatives brought in total revenue of 6.4 billion yuan, a clear sign that Xiaomi has found a new source of growth in the automobile market.
Artificial intelligence plays a critical role in the Xiaomi ecosystem, driving innovation across all its products, from smartphones to electric vehicles.
The future of electric mobility is full of possibilities, and Xiaomi is at the forefront of this transformation. With its commitment to innovation and sustainability, the company is laying the foundations for a future in which electric vehicles are the norm, not the exception. Colombia, with its growing interest in sustainable mobility, is in a privileged position to benefit from this revolution.
Artificial Intelligence is a Key Element of the HumanXCarXHome Intelligent Ecosystem
Artificial intelligence has become the driving force behind the evolution of Xiaomi’s “HumanXCarXHome” intelligent ecosystem. In the second quarter, the company doubled its efforts in the field of artificial intelligence, allocating 5.5 billion yuan, up 20.7% year-on-year.
These investments have led to significant progress in several areas, particularly in the smart electric vehicle sector, where artificial intelligence enables features such as autopilot and automated parking.
Likewise, Xiaomi has significantly improved the capabilities of its AI assistant on its smartphones, allowing it to perform tasks such as document analysis and video creation. These innovations have helped Xiaomi consolidate its position in the premium segment, capturing 22.1% of the Chinese market in the second quarter.
Xiaomi continues to work on developing its ecosystem and ensuring that more and more of its users find a way to improve the quality of their lives through its products and the seamless integration of its products to make their lives easier.
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