Xiaomi YU7 comes in a variety of nine different colour ranges. Credit: Xiaomi.

China’s Xiaomi has reported that its electric vehicle business has made a profit for the first time.

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The company’s EV division posted a profit of 700 million yuan (US$100m) in the September quarter, versus a loss of 300 million yuan in the previous quarter.

Best known for its smartphones, Xiaomi sold its first electric car in China – the SU7 – in 2024, and launched its YU7 electric SUV earlier this year.

Earlier this it also raised $5.5bn to fund its EV expansion plans.

The company is targeting European market entry in 2027.

In September, Xiaomi opened the Xiaomi EV Europe Research and Development (R&D) and Design Center in Munich, Germany — its first such facility beyond its domestic market.

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