Surging demand for Xiaomi SU7 fuels ambitious production boost

Xiaomi has entered the electric vehicle market with a bang. Their inaugural model, the SU7, is experiencing a wave of demand, prompting the company to raise its production targets.

Initially, Xiaomi aimed to deliver 100,000 SU7 units in 2024. However, the overwhelming response to this new EV has led the company to swiftly revise its goal. Xiaomi now expects to deliver at least 10,000 SU7s per month starting in June, with the aim to reach an impressive total of 120,000 units delivered to customers by the end of the year.

The SU7's appeal is evident in its sales figures. As of April 30, Xiaomi had secured an impressive 88,063 orders, and deliveries in April alone reached 7,058 units. So far in May, Xiaomi marked a significant milestone by delivering its 10,000th SU7, further solidifying its fast-growing position in the EV market.

To meet the escalating demand, Xiaomi is accelerating production. Starting in June, the company's Beijing factory will operate on a double-shift model, increasing production time from eight to 16 hours daily. This is expected to elevate the factory's monthly capacity to nearly 20,000 units.

The SU7's popularity isn't surprising, given its impressive specifications and competitive pricing. The EV comes in three versions: standard (RMB 215,900 or $29,800), Pro (RMB 245,900 or $34,500), and Max (RMB 299,900 or $42,000). Deliveries of the standard and Max versions began in April, while the Pro version joined the market in early May.

Xiaomi's ambitious expansion plans continue beyond production. By the end of 2024, the company is set to expand its sales and service network to 219 stores across 46 cities and 143 service centers in 86 cities. This extensive network will cover nearly every province, autonomous region, and municipality in mainland China, ensuring widespread access to the SU7.

The SU7's success clearly shows the growing demand for electric vehicles in China and beyond. As Xiaomi ramps up production and expands its network, the company is well on its way to becoming a major player in the EV market — not bad for a company that only decided to make electric cars three years ago.

Via