Xiaomi Corp. has increased its target for electric vehicle deliveries in 2024 to 130,000 units, which is more than 8% higher than the previous goal of 120,000. Co-founder Lei Jun announced this on social media, expressing the company's confidence in its growing EV business.
Xiaomi aims to strengthen its position in the competitive electric vehicle market, where it faces competition from Tesla Inc. and BYD Co. This move is part of Xiaomi's strategy to expand beyond its well-known affordable gadgets and devices and gain a larger share of the growing EV sector.