Xiaomi conference call: No price war, no involvement in internal competition, full confidence in achieving annual goals, will enter the European electric vehicle market in 2027

The financial report released on Tuesday showed that thanks to the explosive growth of its smart electric vehicle business, Xiaomi's revenue and net profit in the second quarter both reached historic highs.

In the evening media conference call, Xiaomi Group President Lu Weibing stated that the YU 7 series continued the dazzling performance of the SU7, "once again creating a blockbuster miracle for Xiaomi." The company has decided to officially enter the European electric vehicle market in 2027.

Xiaomi's vehicle deliveries reached 81,300 units in the second quarter, a 197.7% increase from 27,300 units in the same period last year, further driving Xiaomi's electric vehicle business revenue to soar 233.9% year-on-year, reaching 21.3 billion yuan, far exceeding market expectations.

Lu Weibing also revealed that Xiaomi Group's overall revenue is expected to grow by more than 30% in 2025, and he is confident in achieving this goal.

Regarding the smartphone business, Lu Weibing stated that Xiaomi phones are firmly targeting the "200 million club," aiming to join the ranks of global annual shipments of 200 million units in the next three to five years.

When asked about the issue of anti-involution, Lu Weibing stated that Xiaomi resolutely does not engage in price wars and does not participate in involution.

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