Xiaomi on Track to Meet EV Sales Targets -- Market Talk

Dow Jones06-03

0801 GMT - Xiaomi is on track to reach its goal of selling more than 10,000 units of its SU7 electric vehicle in June and 120,000 units this year, Citi analyst Kyna Wong writes in a note. The company delivered 8,646 units in May, and analysts expect a rapid production ramp-up in June. The company has said its factory will start operating dual shifts this month, which will help to raise June's deliveries. Investors are watching for details on the company's EV business in its 2Q earnings report. Citi maintains a buy rating on the stock, which is last at HK$17.86. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

June 03, 2024 04:01 ET (08:01 GMT)

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