Xiaomi's automotive business is expected to be profitable in the second half of this year

Lei Jun, founder of Xiaomi Group, predicted that Xiaomi's automotive business will achieve profitability in the third and fourth quarters of this year. Xiaomi officials revealed that the number of YU7 users who retained their accounts is three times that of the SU7 technology during the same period, more than 60% of the users who retained their accounts were first-time users, and more than 40% of the users who retained their accounts had never used Xiaomi products. Xiaomi Group's total revenue from smart electric vehicles and AI and other innovative business divisions in the first quarter was RMB 18.6 billion, of which smart electric vehicles had revenue of RMB 18.1 billion and other related businesses had revenue of RMB 500 million; the operating loss of smart electric vehicles and AI and other innovative business divisions was RMB 500 million.