Xiaomi Surpasses 20,000 SU7 Deliveries, Sets Sights on 120,000 Units in 2024; Outpaces Tesla’s Early Sales

Xiaomi has set a lofty target of exceeding 10,000 deliveries in June alone and delivering a total of 120,000 SU7s throughout 2024.

169
Xiaomi Surpasses 20,000 SU7 Deliveries
Xiaomi Surpasses 20,000 SU7 Deliveries

Xiaomi achieved a significant milestone on June 13, delivering its 20,000th SU7 sedan within just 77 days of its March 28 launch. This rapid success not only underscores Xiaomi’s ability to scale production efficiently but also positions it to meet its target of delivering 120,000 SU7 units by the end of 2024. Xiaomi’s achievement has led to substantial environmental benefits and impressive financial performance, while also outpacing Tesla’s initial sales performance in the Chinese market.

Overcoming Production Challenges and Increasing Capacity

Xiaomi Surpasses 20,000 SU7 Deliveries
Xiaomi Surpasses 20,000 SU7 Deliveries Image Credit: Xiaomi

Despite facing initial production challenges at its new Beijing facility, Xiaomi managed to deliver an average of 260 SU7s daily, including 5,000 Founders Edition models pre-assembled before the official launch. To address production constraints, Xiaomi introduced double-shift operations in June and expanded its workforce at the Beijing plant. The company is also investing in automation technologies to enhance efficiency and reduce the current 30-week and 35-week wait times for the Standard and Max versions, respectively.

Market Demand and Competitive Product Lineup

Xiaomi Surpasses 20,000 SU7 Deliveries
Image Credit : Xiaomi SU7 EV

The SU7 comes in three versions: Standard, Pro, and Max, priced at $29,700, $33,900, and $41,300 respectively. The Max variant features an 800 km range, 495 kW power (663 hp), and advanced technologies such as an enhanced driver assistance system (ADAS). The strong demand for the SU7 is highlighted by the 50,000 pre-orders within 27 minutes of its launch.

Deliveries of the Standard and Max versions began on April 3, followed by the Pro version in May. Xiaomi EV reported its 10,000th SU7 delivery by mid-May, and the company expects to exceed 10,000 deliveries in June, following the 8,646 units sold in May.

Technological Innovations and Updates

Xiaomi Surpasses 20,000 SU7 Deliveries
Image Credit : Xiaomi SU7 EV

Xiaomi has rolled out software updates that enhance the SU7’s battery management and connectivity features. The latest firmware update supports over-the-air (OTA) updates for the infotainment system and autonomous driving capabilities, providing real-time traffic data, adaptive cruise control improvements, and enhanced lane-keeping assistance. Additionally, the SU7 now features Xiaomi’s latest in-car AI assistant, offering natural language processing and voice command functionalities for navigation, climate control, and entertainment.

Outpacing Tesla in Early Sales

Xiaomi Surpasses 20,000 SU7 Deliveries (1)
Image Credit : Xiaomi SU& EV

In a remarkable feat, Xiaomi’s SU7 has outpaced Tesla’s initial sales performance in the Chinese market. In the first three months following the launch of Tesla’s Model 3 in China, Tesla delivered around 14,000 units. Xiaomi’s 20,000 SU7 deliveries within a similar timeframe represent a 43% higher sales volume than Tesla’s during its early months . This rapid growth highlights Xiaomi’s effective market penetration and strong consumer demand for its electric sedans.

Financial Performance and Revenue

Xiaomi Surpasses 20,000 SU7 Deliveries (2)
Image Credit : Xiaomi SU7 EV

Xiaomi’s 20,000 SU7 deliveries have resulted in substantial revenue. Based on an average sale price of $35,000 per unit (a conservative estimate considering the mix of model variants), the company has generated approximately $700 million from these deliveries. This revenue supports Xiaomi’s ongoing investments in electric vehicle production and technology enhancements.

Global Expansion Plans and Market Trends

Xiaomi Surpasses 20,000 SU7 Deliveries
Image Credit : Xiaomi SU7 EV

Xiaomi is gearing up for international expansion with plans to enter European and Southeast Asian markets by 2025. The company is setting up new service centers and partnering with local distributors to facilitate this expansion. The SU7 will also be equipped with enhanced regional compliance software to meet local regulatory requirements and market preferences.

Environmental Impact and CO₂ Emissions Reduction

Xiaomi Surpasses 20,000 SU7 Deliveries
Image Credits : Xiaomi SU7 EV

The delivery of 20,000 SU7 units has made a notable contribution to reducing air pollution. Assuming each SU7 replaces a traditional internal combustion engine (ICE) vehicle with average annual emissions of 4.6 metric tons of CO₂, Xiaomi’s electric sedans have potentially saved about 92,000 metric tons of CO₂ emissions annually. This reduction is equivalent to the annual carbon sequestration of approximately 1.1 million tree seedlings grown for 10 years.