XIAOMI(HK:01810) Zhong Guo Qi Che Bao Wang·2025-11-21 01:56Core Insights - Xiaomi's automotive division achieved a significant milestone with the production of its 500,000th vehicle in just 1 year and 7 months, marking the fastest record in China's new energy vehicle industry [2] - The company aims to deliver over 400,000 vehicles in 2025, a 33% increase from the initial target of 300,000 vehicles [2] - In Q3, Xiaomi's revenue from smart electric vehicles and AI reached a record high of 29 billion yuan, with a quarterly operating profit of 700 million yuan [3] Group 1 - The 500,000th vehicle was produced in 602 days since the launch of the first model, SU7, setting a new global record for mass production ramp-up [2] - The YU7 model became the best-selling SUV in China, surpassing the Model Y in sales for the first time in recent years [2] - Xiaomi's automotive division plans to maintain focus on safety, delivery, technological innovation, and the integration of AI and smart manufacturing [3] Group 2 - Xiaomi's total R&D investment for the year is expected to be between 32 billion and 33 billion yuan, with a projected investment of 200 billion yuan over the next five years [4]