Chinese technology giant Xiaomi has swiftly produced 500,000 electric vehicles (EVs) in under two years, rapidly positioning itself as a major disruptor in the global automotive industry traditionally dominated by legacy carmakers.
The company announced it reached the half-million production mark just one year and seven months after its first vehicle rolled off the assembly line. This rapid manufacturing pace makes Xiaomi one of the fastest global automakers to achieve such a milestone.
While Xiaomi officially entered the automotive sector in March 2021, its production gained significant momentum with the launch of its first model, the SU7 EV, in March 2024. The company also introduced the YU7 model in June of this year.
Production speed has been matched by strong market demand, with Xiaomi delivering 315,376 electric vehicles between January and October. In the third quarter alone, the company delivered 108,796 vehicles, a substantial increase of 173.43% compared to the same period last year.
Last month, Xiaomi delivered 48,654 units, indicating sustained high demand for its EVs. The company’s President and CEO stated that Xiaomi EV now expects to surpass 400,000 units delivered by 2025, an upward revision from its previous target of 350,000 units.
The 500,000th vehicle produced is anticipated to be delivered to a customer in the coming days, demonstrating that sales are keeping pace with manufacturing. The transition from smartphone production to car manufacturing was initially a costly and risky venture, but it is now showing significant returns.
Xiaomi’s success underscores that producing high-quality, in-demand electric vehicles is no longer exclusive to traditional automotive brands. The company’s rapid ascent places it firmly at the forefront of the global electric vehicle race.