Latest news with #XiaomiCorp
The Star
a day ago
- Automotive
- The Star
China drafts rules for driver assistance systems to boost safety
China has sought to tighten rules around driver assistance technology following a fatal accident involving a Xiaomi Corp SU7 electric vehicle that had the autopilot function turned on. — Reuters China is developing new mandatory national safety requirements for driver assistance systems, signaling a move toward tightening regulations as the safety of the rapidly evolving technology comes under scrutiny. The proposal was published in a notice on a public service platform under the State Administration for Market Regulation on Wednesday. The China Automotive Technology & Research Center, state-owned carmaker Dongfeng Motor Group Co and tech giant Huawei Technologies Co are participating in the drafting process. Once finalised, the standard will specify the general technical requirements for combined driver assistance systems, including motion control capabilities, driver status monitoring, driver intervention and functional safety. The deadline for public comment is July 4. China has sought to tighten rules around driver assistance technology following a fatal accident involving a Xiaomi Corp SU7 electric vehicle that had the autopilot function turned on. In April, the government issued stricter regulations that require automakers to be clearer about what their technology can and can't do in an effort to curb descriptions of systems as "self-driving'. Even before the fiery crash in late-March, Beijing had started to put guardrails around driver assistance technology. In February, guidelines were issued about over-the-air software updates, which carmakers routinely use to update in-car smart cockpit and driver assistance systems. The push for the national requirements just disclosed started as early as March 2024, according to the notice, which outlines its objective to establish clear benchmarks that will improve safety and reduce the frequency of accidents. The proposed standards are also intended to align with international norms where "reasonably feasible', the notice said. That will help reduce research and development costs, simplify design for Chinese automakers, and play a crucial role in dismantling technical barriers in international trade, it said. – Bloomberg
Bloomberg
3 days ago
- Automotive
- Bloomberg
Xiaomi Founder Expects EV Arm to Turn Profitable After New SUV
Xiaomi Corp. founder Lei Jun expects its year-old EV business to turn profitable in the second half, a milestone for the billionaire's $10 billion endeavor in a cut-throat market. Xiaomi's shares advanced more than 3% in Hong Kong. Lei delivered his forecast during a Tuesday investor event without specifying the type of profit. His company has enjoyed strong sales of its SU7 sedan since its launch a year ago, which helped narrow losses in that division in recent quarters.
Yahoo
3 days ago
- Automotive
- Yahoo
China's Xiaomi founder expects EV business to turn profitable in H2
BEIJING (Reuters) -China's Xiaomi founder and CEO Lei Jun said on Tuesday that he expected the company's auto business to turn profitable in the second half the year, according to a company spokesperson. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
27-05-2025
- Automotive
- Bloomberg
Xiaomi First-Quarter Sales Beat Estimates on EV, Phone Growth
Xiaomi Corp. reported better-than-expected revenue in the March quarter as it moves to aggressively expand its presence in China's EV market and grow its core smartphone business. Revenue reached 111.3 billion yuan ($15.5 billion), beating the average analyst estimates of 109 billion yuan. The company recorded 75,869 deliveries of its SU7 electric vehicle during the period.
Bloomberg
27-05-2025
- Automotive
- Bloomberg
Xiaomi's Peer-Beating Rally Sets High Bar Ahead of Earnings
It'll be tough for Xiaomi Corp. to beat investors' already high expectations when it reports earnings later Tuesday. Shares of the Chinese maker of electric vehicles and smartphones have surged almost 90% in the past six months, beating all other members of the Hang Seng Tech Index. The stock now trades at 28 times estimated earnings for the next year, making it one of the most expensive in the sector.
