👩🍳 How we use AI at Tech in Asia, thoughtfully and responsibly.
🧔♂️ A friendly human may check it before it goes live. More news here
🧔♂️ A friendly human may check it before it goes live. More news here
Xiaomi hits $128.4b valuation as EV expansion boosts stock
Xiaomi’s valuation surpassed HK$1 trillion (US$128.4 billion) as its stock hit an all-time high, driven by its electric vehicle (EV) expansion.
Shares rose 5.7% in Hong Kong, peaking at HK$40.10 (US$5.14) before closing at HK$39.55 (US$5.08).
Xiaomi’s EV division reported 39.790 SU7 deliveries in Q3 2024, contributing to a 31% revenue increase to 92.5 billion yuan (US$12.8 billion), with 9.7 billion yuan (US$1.34 billion) from EV sales.
To meet demand, Xiaomi is building a second Beijing plant set to open by June, aiming for 300.000 EV deliveries in 2025.
Since its 2018 IPO at HK$17 (US$2.18) per share, Xiaomi’s valuation has climbed 215%.
Recent Xiaomi developments
| Timeline |
|---|
25-Jan-2025 🚗 Xiaomi Auto recalls 30,931 SU7 EVs over parking feature bug
|
16-Jan-2025 📱 Xiaomi debuts in South Korea with flagship smartphones
|
13-Jan-2025 📈 Xiaomi, BYD, Roborock lead Chinese expansion in South Korea
|
02-Jan-2025 🚀 Xiaomi India appoints ex-Samsung exec Sandeep Arora as CBO
|
| 26-Dec-2024 ⚡ Xiaomi partners with Nio, Xpeng, Li Auto for EV charging |
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.