Xiaomi’s EV Arm Posts First Profit in Big Boost for Ambitions

Xiaomi Corp. reported quarterly profit from its electric vehicle business for the first time, a major milestone for the smartphone maker’s ambitious foray into the crowded market.

By John Liu, Jessica Sui · Bloomberg Markets

Xiaomi Corp. reported quarterly profit from its electric vehicle business for the first time, a major milestone for the smartphone maker’s ambitious foray into the crowded market.