Xiaomi logs 20.6 billion yuan in Q2 2025 smart EV revenue

Shanghai (Gasgoo)- On August 19, Xiaomi released its second-quarter (Q2) 2025 financial results, reporting revenue of 116 billion yuan. It was the third straight quarter the company surpassed the 100-billion-yuan mark, representing a 30.5% year-on-year jump. Adjusted net profit surged 75.4% over a year earlier to 10.8 billion yuan, once again crossing the 10-billion-yuan threshold.

Xiaomi SU7 Ultra; photo credit: Xiaomi EV

Revenues from Xiaomi's innovation businesses like smart electric vehicle (EV) and AI reached 21.3 billion yuan, signaling that the business has entered a stage of large-scale growth. Of this, smart EV sales contributed 20.6 billion yuan, while other related businesses added 600 million yuan.

In the quarter, those innovation businesses posted a gross margin of 26.4%, while operating losses narrowed to just 300 million yuan—well ahead of analyst expectations. Xiaomi attributed the improvement to lower costs for key components, reduced per-unit manufacturing expenses, and the successful launch of its premium SU7 Ultra sedan.

In Q2 2025, Xiaomi delivered around 81,000 new vehicles, up 197.7% from the 27,300 units a year earlier. By July this year, cumulative deliveries had surpassed 300,000 units. The company also debuted its luxury performance SUV, the Xiaomi YU7, which secured more than 240,000 units of orders within 18 hours of market launch. To support growth, Xiaomi expanded its sales and service footprint to 335 retail stores across 92 cities in the Chinese Mainland.

Momentum has carried into the second half of 2025. In July alone, Xiaomi EV delivered over 30,000 vehicles, marking a 20% increase from the prior month and a 121% soar year-on-year. To keep up with demand, the company is scaling up production while accelerating the construction of new manufacturing facilities.

The company's first plant, designed for an annual capacity of 150,000 units, is now operating at a monthly output of roughly 24,000 vehicles, close to its upper limits. A second factory with the same capacity has already gone online, while a third facility is under construction.