特斯拉虽然继续位居智能电动汽车（AIEV）公司的销量榜首，但同时迎来史上最大跌幅。 2025年，在销量上，中国7家智能电动汽车头部公司围攻特斯拉初有成效。 以零跑汽车、华为系、蔚小理、小米为代表的7家智能电动汽车头部公司的销量加在一起，已经是特斯拉销量的2倍。 本文首发于亿欧汽车 作者｜郭怀毅 彭苏平 郝秋慧 智能电动汽车（AIEV）头部公司2025年销量排行榜正式出炉！ | | | 销量目标 | 实际销量 | 同比增幅 | | 完成率 | 市值/ | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | 人民币 | | ה | 特斯拉 | 未公开 | 163.6万辆 - | - | -8.6% | _ | 100675亿元 | | 2 | 零跑汽车 | 50万辆 | 59.7万辆 | 1 | 103% | 119.3% | 631亿元 | | 3 | 鸿豪智行 | 100万辆 | 58.9万辆 | | 32.0% | 58.9% | 未上市 | | | 赛力斯 | 未公布 | 51.7万辆 | 1 | 4.0% | - | 220 ...

1月7日晚，小米直播间迎来一场特殊的"道歉局"。在新一代SU7上市预热的关键节点，刚因KOL合作风 波遭处罚的公关部总经理徐洁云现身，向米粉鞠躬致歉；创始人雷军则一边亮出"辞退涉事人员、处罚 高管"的处理结果，一边为疲惫的公关团队发声，这场夹杂着问责、道歉与恳请的直播，瞬间引爆舆论 场。 此次事件更给行业敲响警钟：KOL合作不能只看流量，价值观契合才是根本。该涉事KOL曾因不实信 息被判赔偿联想，也曾被美的终止合作，小米团队的前期筛查漏洞，暴露了内部管理的疏忽。而雷军 的"求情"，并非为失职开脱，而是理解公关团队在持续高压下的不易，这种"严管+共情"的管理方式， 既守住了品牌原则，也体现了企业温度。 直播结尾，徐洁云再次承诺"会更扎实做好工作，维护用户声誉"，雷军则呼吁米粉"给公关团队一个改 过的机会"。这场风波虽暂告一段落，但小米面临的信任重建之路仍任重道远。对于跨界造车的小米而 言，流量与争议并存是常态，但唯有坚守"用户至上"的底线，在产品力与沟通力上双重精进，才能在新 能源赛道上走得更稳。毕竟，粉丝的信任从来不是理所当然，唯有真诚与敬畏，才能穿越舆情迷雾，赢 得长久支持。 这番话揭开了小米2025年的舆 ...

1月3日晚7点，因重感冒而推迟的雷军跨年直播终于上线。雷军带着小米汽车副总裁李肖爽、特别助理徐洁云，足足聊了4个多小时。 在直播中，雷军回应了"绿化带战神""小字免责""7000名法务""不让农民卖小米"等网上的舆论质疑。 对于网上很多小米绿化带出事故的事，徐洁云有点激动："这根本就是有人刻意收集视频，恶意剪辑之后贴的标签，纯粹是带节奏！" 更让他们气愤的是，车主还遭到了人身攻击。 雷军则表示，"几个月前就推出了车主维权服务，每月都会公布进展，绝对和车主站在一起。骂小米有流量，但不能故意抹黑，这是 违法行为啊！" 谈及前段时间"小米不让农民卖小米"的消息，雷军表示，"我就是在农村里长大的，我怎么可能不让农民卖小米，真的让我非常愤 怒。" 雷军提到网上流传的小米拥有7000名法务一事，"怎么可能有7000法务，希望在新的一年强化建设，坚决打击抹黑我们和车主的黑水 军。" 谈及小米此前在海报宣传当中存在的"小字"话题，雷军表示，小字确实是行业陋习，他觉得在这一点上，小米从现在做起，立刻马上 就改。 "我们把精力都放在产品和研发上，没想到会遇到这么多谣言。以后我们会分期分批回应大家的疑问，也希望大家能保持理性，不被 ...

Core Viewpoint - The article discusses Xiaomi's recent live stream led by Lei Jun, addressing various controversies and criticisms regarding the company's new vehicle, the YU7, while emphasizing transparency and commitment to quality [1]. Group 1: Material and Design Controversies - Lei Jun confirmed the authenticity of the "super steel" used in the YU7, developed in collaboration with academic experts, and invited third-party testing to validate its strength [3]. - The design of the YU7's long front end was defended as a balance of aesthetics and practicality, enhancing safety and providing a spacious front trunk [5]. Group 2: Safety Features - The vehicle's wheel detachment during collisions was explained as a safety feature designed to protect passengers by redirecting impact forces [4]. - The YU7's door handle incorporates a dual mechanical design to ensure functionality even in extreme conditions, showcasing industry-leading safety redundancy [7]. Group 3: Marketing and Public Relations - Lei Jun acknowledged the issue of "small print marketing" as a common industry practice and committed to making changes to improve clarity in advertising [8]. - The company refuted rumors about preventing farmers from selling millet, emphasizing its unrelatedness to agricultural products and expressing outrage over the misinformation [9]. Group 4: Legal and Regulatory Matters - Lei Jun denied the claim of having 7,000 legal staff, asserting that the legal team is actively pursuing cases against malicious infringement [10]. - The company is taking steps to combat defamation and misinformation, with a focus on protecting its reputation and the rights of its customers [10]. Group 5: Performance Claims - Lei Jun provided evidence to support the claim of the YU7 achieving 1,300 kilometers on a single charge, clarifying that this was based on real-world testing and not exaggerated marketing [12]. - The statement regarding the vehicle's braking performance was clarified as a subjective expression rather than a technical specification, addressing concerns about misinterpretation [11].

12月12日，小米汽车微博官方账号发布消息称，上午11点小米汽车"现车选购"新增准新车上架开售。消费者可在小米汽车APP选购。现车包含全新现车、官 方展车、准新车，已通过严格质检，可享快速提车、完整原厂质保和售后，部分车型可享优惠。面向所有用户开放，已锁单未交付的用户也可改配。 随着小米二期工厂实现稳定生产，产能增速显著，小米汽车开始从需要长期等待转向"现车选购"。12月2日，小米汽车方面表示，自2024年4月3日起，累计 交付量已超50万台；2025年的交付量超过年初设定的全年目标——35万台。 这也是小米公司首次向市场投放现车。12月1日，雷军曾预告称，小米汽车APP现车选购的功能即将开启，12月26日24点前锁单，预计年底前可提车。 据了解，现车包含全新现车、官方展车、准新车三种车型。其中全新现车均为原厂新车，车辆可能存在一定库龄，来源为官方识别并处理的异常订单，以及 部分用户因不可抗力无法提车的车辆；官方展车即小米汽车官方门店的静态展车(非试驾车)部分车辆可能在展陈期间产生轻微磨损，已对车辆外观、内饰等 进行了清洗整备，具体以车况确认书为准；准新车系曾因运输等原因产生维修项的原厂新车，并已完成官方修复 ...

Core Viewpoint - Xiaomi's stock price has experienced significant volatility, with a nearly 100% increase in the first half of the year followed by a decline of over 35% from its June peak, reflecting the challenges faced by the company and its founder Lei Jun's influence on market sentiment [1] Group 1: Stock Buyback and Market Response - Lei Jun's recent investment of over 100 million HKD in Xiaomi shares and the company's aggressive stock buyback strategy, with a single buyback amount reaching up to 400 million HKD, are seen as efforts to instill confidence in the market [1] - Following these actions, Xiaomi's stock price rose over 5% on November 25, returning above 40 HKD, indicating a potential recovery trend [1] Group 2: Business Challenges - Xiaomi's smartphone business, a cornerstone of the company, reported a revenue of 46 billion CNY in Q3 2025, a year-on-year decline of 3.2%, with a gross margin dropping to 11.1% due to rising manufacturing costs and aggressive pricing strategies from competitors like Huawei [2] - The IoT and lifestyle products segment, while showing a revenue growth of 5.6% to 27.6 billion CNY in Q3, faced a 15.7% decline in smart home appliance revenue, attributed to reduced government subsidies and intensified competition [2] Group 3: Automotive Business and Trust Issues - Xiaomi's automotive division has seen rapid growth, with the 500,000th vehicle rolling off the production line in just over a year, but it faces scrutiny over product quality and marketing practices, leading to a potential trust crisis [4] - Controversies surrounding the SU7 Ultra model, including legal disputes over marketing claims, have raised questions about the integrity of the company's messaging and the founder's accountability [5][6] Group 4: Industry Implications - The challenges faced by Xiaomi reflect broader issues within the Chinese electric vehicle industry, which is transitioning from a focus on hardware to software reliability and ethical data use, highlighting the need for improved transparency and communication [6] - The company's reliance on founder Lei Jun's personal brand and the need for a shift from a "celebrity-driven" model to one based on product reliability and service quality are critical for regaining consumer trust [7]

Core Insights - Xiaomi's investment in artificial intelligence (AI) has yielded returns in 2025 that significantly exceeded expectations, according to the company's president Lu Weibing [1] - The company is shifting focus towards embodied AI after substantial investments in general AI over recent quarters, paralleling strategies seen in companies like Tesla [2] - Xiaomi's advancements in AI large models and applications have surpassed initial expectations, with a belief that the integration of AI with the physical world represents the next generation of intelligent technology [3] AI Developments - Xiaomi launched its first AI model, MiMo, in April and has recently open-sourced MiMo-Embodied, which showcases advanced performance in autonomous driving and embodied AI tasks [4] - The company has seen increased interest in AI applications within the electric vehicle (EV) sector, highlighted by the introduction of its premium SU7 Ultra, which features Hyper-Autonomous Driving technology [5] - There is a growing interest in embodied AI, leading Xiaomi to enhance its investments in robotics, following the introduction of its robot dog in 2021 and a humanoid prototype in 2022 [6] Talent Acquisition - Xiaomi is actively seeking talent to bolster its AI initiatives, recently hiring Luo Fuli, a former researcher from DeepSeek, to lead the MiMo team [7] Financial Performance - Xiaomi's smart EV and AI initiatives turned a profit for the first time in Q3, generating a record revenue of 29 billion yuan (approximately US$4.1 billion), marking a 199% year-on-year increase [8] - The company's total revenue for the quarter rose by 22% year-on-year to 113.1 billion yuan [8]

Core Viewpoint - Xiaomi has officially opened the purchase of "in-stock" vehicles through its app, allowing users to select from available models and expect delivery by the end of the year [2][4][5]. Group 1: Vehicle Availability and Types - The "in-stock" vehicles include three types: brand new vehicles, official display vehicles, and nearly new vehicles, with the latter not yet available for purchase [4][5]. - All "in-stock" vehicles are confirmed to be unregistered and come with full factory warranties and after-sales services [5][8]. Group 2: Delivery Timeline - The delivery timeline for new vehicle orders has been shortened, with some models expected to be delivered within 3 to 6 weeks after order confirmation [9][11]. - Specific delivery timelines for various models range from 3 to 38 weeks, depending on the model selected [11]. Group 3: Sales Performance and Expansion - Xiaomi's vehicle deliveries exceeded 40,000 units in November, surpassing the initial target of 350,000 units for 2025, with total deliveries since April 2024 exceeding 500,000 units [12]. - The company is expanding its sales and service network, with plans to add 36 new stores in December, bringing the total to 249 service points across 144 cities [12].

Core Viewpoint - Xiaomi Group has experienced significant growth in quarterly profits but faces backlash from over-marketing, resulting in a nearly 30% drop in stock price over six months [1][15]. Financial Performance - In Q3 2025, Xiaomi Group reported total revenue of 1131.21 billion yuan, marking a 22.3% year-on-year increase, and an adjusted net profit of 113.11 billion yuan, up 80.9% [4]. - The smartphone revenue decreased by 3.1% from 475 billion yuan in Q3 2024 to 460 billion yuan in Q3 2025, primarily due to a decline in average selling price (ASP) [2][4]. - The ASP for smartphones fell from 1102.2 yuan to 1062.8 yuan, a decrease of 3.6% [4]. Automotive Business - Xiaomi delivered 10.88 million new cars in Q3 2025, with a total of 260,000 cars delivered in the first three quarters [6]. - The revenue from the smart electric vehicle and AI segment reached 290 billion yuan, a remarkable 199.2% increase year-on-year, with the majority coming from electric vehicles [5][6]. - The gross profit for the smart electric vehicle segment was 73.84 billion yuan, with a gross margin increase from 17.1% to 25.5% [6]. Marketing Controversies - The launch of the 500,000th Xiaomi car was overshadowed by a court case regarding false advertising related to the Xiaomi SU7 Ultra's carbon fiber hood [1][8]. - Consumers have raised concerns about the actual functionality of the carbon fiber hood compared to its advertised features, leading to lawsuits [10][11]. - Xiaomi's legal defense claims that the CEO's statements do not constitute false advertising, as he advised against purchasing the product [11]. Market Reaction - Xiaomi's stock price has dropped approximately 28% over the past six months, resulting in a market capitalization loss of about 390 billion HKD (approximately 360 billion RMB) [1][15]. - The company has faced negative public sentiment due to multiple traffic accidents and issues in the second-hand market, leading to a decline in consumer confidence [12][13].

Core Viewpoint - Xiaomi Group has experienced significant growth in quarterly profits but faces backlash from over-marketing, resulting in a nearly 30% drop in stock price over six months [1][4]. Financial Performance - In Q3 2025, Xiaomi Group reported total revenue of 1131.21 billion yuan, a year-on-year increase of 22.3%, and an adjusted net profit of 113.11 billion yuan, up 80.9% [5]. - Smartphone revenue decreased by 3.1% from 475 billion yuan in Q3 2024 to 460 billion yuan in Q3 2025, attributed to a decline in average selling price (ASP) [5]. - The ASP for smartphones fell by 3.6% from 1102.2 yuan to 1062.8 yuan during the same period [5]. - The gross margin for smartphones was 11.7%, down 4.9 percentage points year-on-year [6]. Automotive Business - Xiaomi delivered 10.88 million new cars in Q3 2025, with a total of 260,000 cars delivered in the first three quarters [7]. - Revenue from the smart electric vehicle and AI segment reached 290 billion yuan, a 199.2% increase year-on-year, with electric vehicle revenue accounting for over 97% [6]. - The gross margin for the smart electric vehicle segment improved from 17.1% to 25.5% year-on-year [7]. Market Challenges - Xiaomi's automotive division is facing public scrutiny due to multiple traffic accidents and issues in the second-hand market, leading to a decline in consumer confidence [3][14]. - The company is involved in a legal dispute regarding false advertising related to the SU7 Ultra model, with consumers alleging that the advertised features do not match the actual product [2][10]. - The stock price of Xiaomi Group has dropped approximately 28% over the past six months, resulting in a market value loss of about 390 billion HKD (approximately 36 billion RMB) [4][17].