Back    Zoom +    Zoom - Top
Lei Jun: Xiaomi SU7 GPM ~5-10%, with Smart Driving Team's 1 Yr Budget RMB1.5B
Recommend
38
Positive
54
Negative
9
Lei Jun, XIAOMI-W (01810.HK)'s Chairman, said at a Xiaomi investor conference that he expected Xiaomi SU7 to record a gross profit margin of around 5-10%, and that the sales for today were much larger than expected, with the specific figures still requiring careful calculation, according to Chinese media.

The current budget for the smart driving team is about RMB1.5 billion a year, Lei added. The number of engineers will be increased from over 1,000 to 1,500 this year, and will be further expanded to 2,000 next year.

Related NewsM Stanley: NIO Inc. (NIO.US) Apr Sales Regain Growth Momentum
For overseas market, Lei said that, in terms of business deployment, the Company will focus entirely on the domestic market in the next 3 years, and grooming the China market is the first step of Xiaomi Automobile.
AAStocks Financial News