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Xia Yiping of Jiyue Addresses 'Selling Cars at a Loss': Acknowledging Industry-wide Challenges
2025-04-16 /
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Author：小编
Xia Yiping, the CEO of Jiyue Motors, addressed the controversy surrounding the company's practice of selling cars at a loss in the documentary "Torrent." He stated that the automotive industry is currently grappling with widespread profitability issues, and Xiaomi Motors is not an exception, as evidenced by financial reports indicating losses ranging from 30,000 to 60,000 yuan per vehicle. Xia Yiping emphasized that Jiyue has transparently disclosed its anticipated losses for the next three years to investors, explaining that these investments are directed towards research and development costs, as well as mold costs, with a total investment of less than 16 billion yuan over a four-year period.
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