Tesla Rival Xiaomi Sets Production Records as Chinese Challenge Accelerates

Xiaomi, a Chinese EV maker, celebrated its 500,000th vehicle production milestone in just over 19 months, a record for new energy vehicle makers. Despite this, Xiaomi's shares fell over 4%. The achievement highlights Xiaomi's rapid production scaling and growing market presence, posing a challenge to U.S. rivals like Tesla. Xiaomi plans to boost production and enhance AI integration in manufacturing. In Q3, Xiaomi Auto delivered 108,796 vehicles, up from previous quarters.