US LNG exports surge but will buyers in China turn up?
Investing.com-- Xiaomi (HK:1810) delivered more than 25,000 electric vehicles in June, the company’s EV division said on Tuesday, marking its ninth consecutive month of deliveries above 20,000 units.
Xiaomi did not disclose a specific figure, but the June numbers were slightly below May’s tally of over 28,000.
The month-on-month decline followed a drop in SU7 orders in recent months, as Xiaomi faced scandals involving safety concerns and false advertising over a performance component.
Xiaomi’s recently unveiled YU7 SUV, starting at 253,500 yuan, has garnered exceptional demand, securing 200,000 pre-orders in three minutes, with totals rising to nearly 289,000 in an hour.
This places increased pressure on Tesla Inc (NASDAQ:TSLA), as its China-made EV sales have fallen 15% y-o-y in May, while rivals like BYD (HK:1211) and Xiaomi continue to gain market share.
Xiaomi aims to deliver 350,000 EVs in 2025 and anticipates turning its auto division profitable in the second half, backed by growing production capacity, including a new Beijing line.