Xiaomi Corp.’s stock values have surged significantly this year as the company strengthens its presence in China’s electric vehicle (EV) sector.

In the recent quarter, the EV division contributed about 10% to Xiaomi’s total revenue, highlighting its rapid growth in the market.

For 2024, Xiaomi targets the delivery of 130,000 SU7 sedans, with projections increased twice in recent months.

Analysts forecast further growth with the introduction of the YU7 SUV in 2025, which may substantially boost total sales.

Recent Xiaomi developments