Xiaomi, the Chinese smartphone giant, has not only met but exceeded its delivery target for its first electric vehicle (EV) model, the SU7. The company’s founder, Lei Jun, announced on Weibo that over 100,000 units of the SU7 have been delivered, surpassing the initial target for the year. In light of this achievement, Xiaomi has set a new target of 130,000 units to be delivered by the end of 2024, marking a significant increase from the previously revised target of 120,000 units.
The SU7 was officially launched on March 28, offering three versions – Standard, Pro, and Max – with varying starting prices. Deliveries of the Standard and Max versions began in April, followed by the SU7 Pro in May. The rapid production and delivery of the SU7 have been impressive, with the 100,000th unit rolling off the production line on November 13, just 230 days after the model was launched.
Xiaomi has been steadily increasing its production capacity to meet the growing demand for the SU7. Monthly deliveries have consistently exceeded 10,000 units from July to September and surpassed 20,000 units in October. As production ramps up, it is expected that Xiaomi will reach a monthly production rate of 24,000 units in November and December.
The SU7 is manufactured at a plant in Beijing with an annual capacity of 150,000 units in the first phase, with the second phase of the plant currently under construction. The plant’s design capacity of 12,500 units per month has already been operating at a utilization rate of 160 percent in October, indicating the high demand for the SU7.
To ease delivery pressure and meet the new target of 130,000 units for 2024, Xiaomi is aiming to increase its monthly production to 24,000 units. This would push the capacity utilization rate close to 200 percent, demonstrating Xiaomi’s commitment to meeting the demand for its electric vehicles.
In addition to the SU7, Xiaomi has also announced the pre-sales of the SU7 Ultra, with an official launch scheduled for March 2025. The company’s foray into the electric vehicle market has been met with success, and with the continued growth in production and delivery targets, Xiaomi is poised to make a significant impact in the EV industry.
Overall, Xiaomi’s achievement in surpassing its delivery target for the SU7 and setting a new, higher target is a testament to the company’s commitment to innovation and excellence in the electric vehicle market. With the continued expansion of its production capacity and the introduction of new models, Xiaomi is well-positioned to be a major player in the EV industry in the coming years.
