Lei Jun: Xiaomi car is expected to be profitable in the second half of the year and confident in achieving the annual delivery target of 350,000 vehicles.

Xiaomi Group partner and Group President Lu Weibing said in the performance conference call that evening that he was confident in achieving the annual delivery target of 350,000 Xiaomi cars. In the second quarter of this year, revenue from Xiaomi's smart electric cars and innovative businesses such as AI increased significantly by 234% to 21.3 billion yuan, and operating losses narrowed significantly to 300 million yuan, with the possibility of achieving a quarterly profit in the second half of the year. However, from 2022 to the first half of 2025, Xiaomi's investment in innovative businesses such as cars will exceed 30 billion yuan, so cumulatively, the new business still faces significant losses.