Overview
- Xiaomi’s smart EV and AI division posted Q3 revenue of RMB 29.0 billion with operating profit of RMB 700 million and a 25.5% gross margin, delivering 108,796 vehicles and expecting to hit 350,000 annual deliveries this week.
- Leapmotor reported Q3 revenue of RMB 19.45 billion, net profit of RMB 150 million and 173,852 deliveries, and said its first China FAW–linked overseas model is slated for mass production in the second half of next year.
- Xpeng’s Q3 revenue rose 102% to RMB 20.38 billion with a narrowed net loss of RMB 380 million on 116,007 deliveries, and it guided Q4 deliveries to 125,000–132,000 and revenue to RMB 21.5–23.0 billion.
- Zeekr posted Q3 revenue of RMB 31.56 billion and a net loss of RMB 3.07 billion on 140,195 deliveries, with the year-over-year loss sharply reduced.
- Xiaomi said it has secured a 2026 memory supply agreement and may use pricing or product-mix shifts to offset rising component costs, as Geely executives cautioned that weaker, unprofitable EV entrants face a coming shakeout.