Citi analysts raise Xiaomi Auto's gross margin forecast to 6%

Lei Jun, CEO of Xiaomi, said at the Beijing Auto Show that the current orders for Xiaomi's electric SUV have exceeded 75,000, close to the company's original full-year delivery target of 100,000 vehicles this year. Citi analysts expect Xiaomi's car shipments to reach 100,000 this year, 200,000 next year, and 280,000 in 2026, and raised the gross profit margin forecast for Xiaomi's automotive business this year to 6%, compared with the previous forecast of a loss of 10%.