XIAOMI(HK:01810) Jing Ji Wang·2025-11-24 07:55Core Insights - Xiaomi's automotive division achieved a significant milestone by rolling off its 500,000th vehicle in just 602 days, setting a record for the fastest production ramp-up in the global new energy vehicle sector [1][3][5] Production and Delivery - The production of 500,000 vehicles demonstrates Xiaomi's comprehensive capabilities in research, manufacturing, sales, delivery, and service, marking its entry into a new phase of scale [3] - In Q3 2023, Xiaomi delivered over 100,000 vehicles, achieving a year-on-year growth of 173.4%, with a total of over 260,000 vehicles delivered in the first three quarters [5] - The company expects to exceed its delivery target of 350,000 vehicles this week and aims to deliver over 400,000 vehicles in 2025 [5][9] Quality and Innovation - Xiaomi's automotive factory emphasizes safety and quality, featuring 98 quality inspection stations and over 1,100 production robots, with ongoing technological upgrades [6] - The company has completed 35 technical upgrades to enhance production efficiency and reduce delivery times [6] Industry Impact - Xiaomi's rapid growth reflects the collective rise of China's smart new energy vehicle industry, positively impacting over 300 upstream and downstream suppliers [6] - Partnerships with key suppliers, such as Hesai Technology for lidar systems, highlight Xiaomi's commitment to safety and quality through collaborative innovation [7] Future Plans - Xiaomi plans to continue focusing on safety and quality while accelerating production and enhancing technological innovation, particularly in AI and smart manufacturing [9]