Xiaomi partners with EV companies for access to charging stations in China

From Investing.com: 2024-12-26 05:32:35

Chinese tech giant Xiaomi is teaming up with EV rivals NIO, XPeng, and Li Auto to access over 29,000 charging stations in China, boosting its auto business. The move was described as strategic by CCB International analyst Qu Ke.

Xiaomi’s cars can now utilize more than 14,000 NIO, 9,000 XPeng, and 6,000 Li Auto charging stations according to a Weibo post. The company’s EV business reported strong sales, generating $1.33 billion in Q3 with a gross profit margin of 17.1%.

Xiaomi, known for smartphones and appliances, hit its 2024 delivery target of 100,000 units early and increased the annual goal to 130,000 units in November. Its shares, which closed at 32.75 HK dollars, have doubled this year due to strong earnings and EV business performance.



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