Xiaomi Raises $5.5 Billion to Accelerate EV Expansion and R D

Xiaomi has secured $5.5 billion through a share sale to boost its electric vehicle (EV) business expansion and R&D efforts. The company sold 800 million shares at HK$53.25 (US$6.8) each, exceeding its initial target. Investor interest in Xiaomi's EV projects, including the SU7 sedan, has driven a 160% stock increase in six months. The funds will support Xiaomi's increased delivery target of 350,000 EV units by 2025.