China Auto Daily丨Xiaomi Auto Expands to 235 Showrooms Across 65 Cities

Xiaomi Auto Expands to 235 Showrooms Across 65 Cities, to Add 33 in April  

March 31 — Xiaomi Auto added 15 new showrooms in March, bringing its total to 235 across 65 cities, CEO Lei Jun announced on Weibo. Service centers now cover 75 cities with 127 outlets. April will see 33 new stores, including first entries into Baoding, Dezhou, Deyang, Shantou, Xiangtan, Liuzhou, and Ma’anshan.  

Seres Posts Record 2024 Revenue of RMB 145.18B, NEV Margin Hits 26.2%  

March 31 — Seres Group reported 2024 revenue of RMB 145.176 billion (USD 19.99 billion*), up 305% YoY, with net profit reaching RMB 5.946 billion (USD 819 million*). NEV gross margin rose to 26.21%, driven by strong AITO M5/M7/M9 sales. The firm also announced plans for an H-share IPO, a RMB 5 billion (USD 688 million*) strategic investment in its EV unit, and a 100% acquisition of battery maker Longsheng New Energy.  

Huawei’s Smart Car Unit Turns Profitable, Avatr and Seres Take Stakes in Yinwang

March 31 — Huawei’s smart car solutions business generated RMB 26.353 billion (USD 3.63 billion*) in 2024 revenue, up 474% YoY, marking its first profitable year. Subsidiary Yinwang adjusted its ownership structure, with Huawei reducing its stake to 80% and selling 10% each to Avatr and Seres. The board now includes Chairman Xu Zhijun, Vice Chairs Yu Chengdong and Zhu Huarong.  

FAW Hongqi TianGong 06 EV Opens Pre-Sales from RMB 184,800

March 31 — FAW’s premium brand Hongqi launched pre-orders for the TianGong 06, a mid-size electric SUV priced at RMB 184,800–230,800 (USD 25,400–31,800*). It features the Sinan autonomous driving system, Lingxi smart cockpit, and a millisecond-response AWD. The TianGong 08, already on sale, recently received an OTA update enabling city NOA and memory parking.  

BYD FangChengBao Tai3 Starts Pre-Sales at RMB 139,800 to RMB 203,800 with Drone Integration

March 31 — BYD’s off-road sub-brand Fang Cheng Bao unveiled the Tai3 compact SUV, pre-sale priced at RMB 139,800–203,800 (USD 19,200–28,000*). Highlights include a DJI co-developed in-car drone system, EVO+ terrain recognition platform, God’s Eye C ADAS, and Yunnian-C predictive suspension. The ”1 drone + 3 zones” design targets tech-savvy adventurers.  

*Exchange rate: RMB 7.3 = USD 1 (as of March 31, 2025).