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Automakers

Xiaomi, eyeing Europe, will swallow EV losses to join Tesla in the big leagues

Xiaomi SU7 ARC 2024
Xiaomi entered the auto market in March with the SU7, the first step in its plan to become a major force in the EV market. (LUCA CIFERRI)
B
By:
Bloomberg
August 22, 2024 09:09 AM

Xiaomi is willing to grow its nascent electric-vehicle arm at the expense of profits for now, as it angles to join Tesla and BYD among the world’s biggest automakers over the next decade or two.

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