Xiaomi distributed over 14 Million USD cash bonuses to dealerships in China, 4.10 Billion USD EV revenue in Q3, up 197.9% Y-o-Y

Recently, Xiaomi distributed more than 100 million yuan (14.2 million USD) financial subsidies to its dealers across China with no strings attached:

• 100,000 yuan (14,200 USD) per store for stores built in 2024
• 500,000 yuan (71,000 USD) per store for new stores built before December 15, 2025

Sources familiar with the matter said the subsidies were distributed in the form of “red envelopes” (cash bonuses), intended to express gratitude to nationwide dealers as the new year approaches on December 31. Some dealers received “red envelopes” exceeding 4 million yuan (568,000 USD).

Furthermore, industry insiders indicated that Xiaomi’s distribution of subsidies to car dealerships is driven by the rapid expansion of Xiaomi’s automotive sales channels, which also correlates to increasing sales. As of the end of November, Xiaomi Auto had 441 stores in 131 cities across China and 249 service outlets covering 144 Chinese cities.

In particular, the number of Xiaomi Auto stores has been continuously increasing over the past three months, with 32, 22, and 17 new stores added in September, October, and November, respectively, totaling 71 new stores. Xiaomi stated that it expects to add another 36 stores in December, covering seven cities.

In March 2021, Xiaomi officially announced its entry into the automotive industry. Now, more than four years later, Xiaomi has launched two models: the SU7 sedan and YU7 SUV.

Earlier on November 20, Xiaomi announced that its 500,000th vehicle had rolled off the production line, which took a little over one year and seven months. The company’s EV revenue also reached 4.10 billion USD in the third quarter of this year.

In the first 11 months of this year, Xiaomi Auto’s cumulative sales reached 361,600 vehicles, with the Xiaomi SU7 accounting for 247,000 units, and the Xiaomi YU7 for 114,600 units. Looking back, Xiaomi’s monthly sales this year has gradually been increasing from 20,000+ to 25,000+ to 45,000+ units in the beginning of 2025 to November.

Source: Xiaomi, ITHome