Xiaomi rewards Chinese dealers with over $14 million in bonuses as EV sales soar. Discover the impact and future plans – read more now!
Chinese tech giant Xiaomi has handed out more than 100 million RMB (about $14.2 million) in cash bonuses to its electric‑vehicle dealers across the country, with no strings attached. The move comes as the company’s EV division enjoys record‑breaking growth.
Record EV Revenue Fuels the Generosity
In the third quarter of 2024, Xiaomi Auto reported revenue of $4.10 billion, up a staggering 197.9 %** compared with the same period a year earlier. The surge reflects the rapid adoption of its two flagship models – the SU7 sedan and the YU7 SUV – and the expanding dealer network.
Massive Dealer Incentives
Xiaomi allocated over 100 million RMB in “red envelopes” – a traditional gift symbolising good luck – to its dealers. Each store that opened in 2024 received 100,000 RMB (≈$14,200), and any outlet built before 15 December 2025 earned an additional 500,000 RMB (≈$71,000). Some top‑performing partners even received more than 4 million RMB (≈$568,000).
Rapid Store Expansion Across China
By the end of November, Xiaomi Auto operated 441 stores in 131 cities, supported by 249 service points in 144 cities. The network grew by 32 new stores in September, 22 in October, and 17 in November. Xiaomi plans to add another 36 locations in December, spreading across seven additional cities.
Xiaomi’s Auto Journey So Far
After announcing its entry into the automobile industry in March 2021, Xiaomi launched its first models – the SU7 sedan and the YU7 SUV – just over four years later. On 20 November, the company celebrated the production of its 500,000th vehicle**, a milestone that took 1 year and 7 months to achieve.
In the first eleven months of 2024, Xiaomi Auto sold a cumulative 361,600 vehicles: 247,000 SU7s and 114,600 YU7s. Monthly deliveries have consistently risen, moving from just over 20,000 units early in the year to more than 25,000 units by year‑end.
What This Means for the Market
Industry analysts say the generous dealer subsidies are designed to accelerate Xiaomi’s retail footprint and cement its position in China’s fiercely competitive EV market. With revenue soaring and a growing dealer base, Xiaomi is poised to challenge established players and continue its rapid expansion.
As the company looks ahead, the next steps will likely involve further model launches, increased production capacity, and perhaps even a push into overseas markets.