On Tuesday, March 18, Lei Jun, the co-founder of Chinese tech giant Xiaomi, took to Weibo to announce that the company has revised its electric vehicle delivery target for 2025 to 350,000 units. This represents a significant 16.67% increase from the initial target of 300,000 units set at the beginning of the year. Lei Jun also revealed that the production capacity expansion is proceeding smoothly, and while the delivery target has been increased, the production is ready to support it.
Prior to this, Xiaomi had posted an update on Weibo celebrating a major milestone – the company has delivered 200,000 electric vehicles. Notably, the first 100,000 units took 229 days to deliver, while the next 100,000 units were delivered in just 119 days. This marks a considerable acceleration in delivery times, underscoring the company’s growing efficiency in its electric vehicle manufacturing operations.
As per the company’s 2024 annual report, Xiaomi delivered 136,854 units of its SU7 electric vehicle, generating revenue of 32.8 billion yuan. The company has consistently exceeded the 20,000-unit delivery mark for five consecutive months, with cumulative deliveries surpassing 180,000 units out of over 248,000 orders received.
Xiaomi unveiled its SU7 electric sedan on March 28, 2024, in three variants: the Standard edition priced at 215,900 yuan, the Pro edition at 245,900 yuan, and the Max edition at 299,900 yuan. Deliveries of the Standard and Max editions commenced in April 2024, while the Pro edition started shipping in May 2024. More recently, in February, Xiaomi launched the SU7 Ultra, priced at 529,900 yuan, with deliveries beginning in early March and a sales target of 10,000 units set for this year.
The company’s manufacturing facility in Beijing currently has an initial production capacity of 150,000 units per year. Construction on the second phase of the factory began in July 2024, aiming to increase production capacity to 300,000 units per year by June 2025. Given Xiaomi’s plans to further ramp up production, the revised target of 350,000 units seems achievable.
Furthermore, Xiaomi is slated to launch its first electric SUV, the YU7, in June or July 2025. This new model will compete directly with the Tesla Model Y, the best-selling electric vehicle in China for both 2023 and 2024. With the SU7 having already surpassed the Tesla Model 3 in China, if the YU7 can also outdo the Model Y, it could help Xiaomi reach its ambitious delivery target of 350,000 units.