Xiaomi EV Production Set To Surpass 100,000-Unit Target Ahead Of Schedule

Xiaomi’s electric vehicle (EV) venture is making waves in the automotive landscape with the launch of its first EV model, the SU7 now set to reach its 100,000-unit production target by early November, a full two months ahead of schedule.

Lei Jun, Xiaomi’s founder, chairman, and CEO, announced that the company has completed its planned production ramp-up. This accelerated timeline arrived after Xiaomi initially set a target of 60,000 units for 2024, which was quickly revised upward due to overwhelming demand. The SU7 garnered over 50,000 orders within the first 27 minutes of availability, prompting the company to boost its manufacturing capacity.

Since rolling out its first customer EVs in May, Xiaomi has maintained a rapid production pace. The company delivered more than 30,000 units in just over three months and expects July deliveries to exceed 10,000 units. This momentum puts Xiaomi on track to potentially produce 120,000 units in merely six months.

To support its growing EV venture, Xiaomi is rapidly expanding its sales and service network across China. As of now, it currently operates 93 sales stores, 57 service centers, and 30 delivery hubs in 31 cities. By December 2024, it aims to more than double its presence, with plans for 220 sales stores, 135 service centers, and 53 delivery hubs spanning 59 cities.

Xiaomi’s founded success in the EV market is expected to intensify competition in China’s already crowded new energy vehicle (NEV) sector. The China Association of Automobile Manufacturers reports that NEV production and sales reached nearly 5 million units in the first half of 2024, representing a year-on-year growth of over 30%.

Recently, the company has been developing a high-performance “Ultra” version of the SU7, aiming to create the world’s fastest four-door car within a decade. Moreover, Xiaomi is investing in smart driving technology with plans to expand its team to 2,000 members by 2025 and roll out nationwide coverage of its smart assisted driving feature by August.

Read More: Xiaomi Reveals SU7 Ultra Electric Hypercar With 1548 Horsepower

While Xiaomi’s early success is noteworthy, the company’s further success in China’s EV market will be determined by its efforts. As Xiaomi races toward its production targets, all eyes will be on whether the company can maintain its momentum.

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