With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.
Xiaomi EV Revenue Breaks ¥100 Billion in 2025
On March 24, Xiaomi released its 2025 financial results, delivering record-breaking performance across all segments. Total revenue reached 457.3 billion yuan (+25% YoY), while its smart EV and AI businesses surged ahead as key growth drivers.
Highlights from Xiaomi's auto push:
✅ EV & AI revenue hit 106.1 billion yuan (+223.8% YoY)
✅ Annual vehicle deliveries reached 411,082 units (+200.4% YoY)
✅ New-gen SU7 demand stays red-hot:
• 15,000+ locked-in orders in 34 minutes
• 30,000+ locked-in orders within 3 days
With annual EV revenue surpassing 100 billion yuan for the first time, Xiaomi is rapidly evolving from a tech giant into a serious smart mobility contender.
New Vision Automotive Electronics Goes Public in Hong Kong
On March 24, Jiangsu New Vision Automotive Electronics Co., Ltd. (“New Vision”) was successfully listed on the Main Board of the Hong Kong Stock Exchange under the stock code 2632.HK.
In its IPO, the company offered 16.23 million H shares globally, representing approximately 13.15% of its total issued share capital after the offering. The shares were priced at HK$44.20 each, raising gross proceeds of about HK$717 million and net proceeds of approximately HK$650 million.
Founded in 2015, New Vision is an automotive electronics supplier focused on intelligent cockpit visual interaction solutions. Its core products are head-up displays (HUDs), including W-HUD and AR-HUD systems.
Aptiv Automotive Electronics Intelligent Factory Project Lands in Jiaxing
On March 23, Aptiv officially signed an agreement to establish an intelligent automotive electronics factory in the National High-Tech Industrial Development Zone of Jiaxing, Shanghai, with a planned total investment of RMB 5 billion.
In the first phase, the project will build a new smart factory in the Jiaxing High-Tech Zone, focusing on the R&D, production, and sales of intelligent cockpit products, advanced driver assistance systems (ADAS), and related sensors. Operations are scheduled to begin in the third quarter of 2027.
This agreement marks Aptiv's second major investment in the zone following its initial presence in 2018, further strengthening its manufacturing capacity and R&D capabilities in intelligent cockpit and ADAS technologies.
