Xiaomi EV hits 200,000 delivery milestone, adjusts yearly target upwards

Xiaomi EV is celebrating the delivery of its 200,000th vehicle, a Magenta Red SU7, to a young couple. This huge milestone highlights the rapid growth of Xiaomi's electric vehicle division. What's even more impressive is the speed at which those deliveries are happening. The first 100,000 units took 229 days, but the next 100,000 were delivered in just 119 days.

The Xiaomi SU7 competes with the Tesla Model 3 in China, and it has seen huge demand since its launch. It comes in several versions: the Standard, Pro, Max, with the high-performance Ultra soon to join them. Prices range from about $29,840 for the Standard model to $73,200 for the Ultra. The company launched the SU7 in March 2024, and it has been struggling to keep up with the demand since.

Despite being on the market for a year, the SU7's popularity shows no signs of slowing down. Customers who order a standard SU7 now face a wait of over 30 weeks. The SU7 Ultra has a wait time of 14 to 17 weeks. This kind of waiting time is very unusual in the Chinese EV market. Xiaomi EV has seen over 248,000 locked-in orders for the SU7.

In response, Xiaomi EV is increasing its production capacity. The company has raised its 2025 delivery target to 350,000 units, up from the previous seemingly very ambitious target of 300,000. Xiaomi founder Lei Jun said the company is successfully boosting production. Xiaomi's factory in Beijing currently has an annual capacity of 150,000 units. A second phase of the factory is under construction.

Looking ahead, Xiaomi EV plans to launch the YU7 electric SUV in the summer. The company's focus on increasing production means it expects to become a major player in the automotive market far sooner than even the most optimistic early predictions expected.

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