Chinese company Xiaomi generates more than 60% of its revenue from smartphone sales, and some revival in the relevant segment of the market allowed the company to increase its revenue by 27% to $10.4 billion in the last quarter. However, the company management made another unexpected statement. The company is ready to launch 120,000 electric cars this year, 20% more than the previous plan.

Xiaomi’s revenue growth in the first quarter was 2.7 points higher than analysts expected, reaching 27%. This is the third quarter in a row that Xiaomi managed to increase its revenue. At the same time, the company’s net profit decreased by 1% to $580 million. According to IDC estimates, the company managed to increase the number of smartphones shipped by almost 34% in the first quarter and narrow the gap behind Samsung and Apple. Chinese market.

There was a lot of attention paid to electric cars at Xiaomi’s quarterly reporting conference. At the conference, Xiaomi management expressed its intention to deliver at least 10,000 electric cars in June and at the same time increase the delivery volume to 120,000 vehicles by the end of this year. Recently, Xiaomi conservatively estimated that it could produce 100,000 SU7 electric cars by the end of this year, with sales starting at the end of March. With 10,000 copies shipped to customers, the milestone was surpassed in the first 43 days of sales, and by the end of April the company had approximately 90,000 orders for delivery. At the planned production increase rate, this meant that customers would have to wait, at best, until the end of the current year for cars ordered now.

By the end of this year, Xiaomi will have 219 sales points in 46 cities in China, and 143 service centers will be distributed in 86 cities of the PRC. In June, the company will begin two-shift production of the SU7 at the plant in Beijing, which will allow it to count on the delivery of 10,000 machines by the end of the month. The company will then be able to produce 20,000 electric cars per month in two shifts, thus ensuring the necessary increase in supply volumes. According to estimates by Bloomberg analysts, by the end of this year, Xiaomi’s revenue from electric car sales will be measured in the range of 5 to 9% of the total. This is some serious progress for a new product category. varieties of this brand.