Xiaomi announces plans to increase EV deliveries in 2025

This 200,000 mark was exceeded last week and also demonstrates the successful ramp-up of in-house production: Xiaomi’s electric car division took 229 days to produce the first 100,000 vehicles. The second 100,000 units of the SU7, the only model to date, were delivered to customers in just 119 days.

Demand remains high: when Xiaomi opened the order books for the top-of-the-range SU7 Ultra at the end of February, over 10,000 binding orders were received within two hours – corresponding to the planned annual production of the SU7 Ultra. And with the YU7 electric SUV, the second Xiaomi model is soon to be launched on the market.

As Xiaomi founder and CEO Lei Jun announced on the Chinese social media platform Weibo, Xiaomi EV has made “some progress’” in its plan to increase production capacity. As a result, the target of 300,000 deliveries set at the beginning of the year has now been increased by 16.6 per cent to 350,000 units. Xiaomi therefore continues to assume that it will be able to sell all the cars it builds – and that its own production, not demand, will remain the limiting factor.

The high demand is also reflected in the business figures for the fourth quarter. In the final quarter, Xiaomi EV generated sales of the equivalent of 2.07 billion euros, 71.5 per cent higher than in Q3. Xiaomi EV was able to more than halve its net loss from 1.5 billion yuan in Q3 to around 700 million yuan (191 to 89 million euros). The gross margin was 20.4 per cent, compared to 17.1 per cent in Q3.

In the full year 2024, sales from Xiaomi’s ‘innovation business’ totalled 32.8 billion yuan (4.17 billion euros), of which 32.1 billion yuan (3.94 billion euros) was attributable to the electric car division. As significant sales have only been generated since the start of deliveries in April, the result of almost four billion euros is worth seeing.

cnevpost.com (200,000 SU7), cnevpost.com (delivery target), cnevpost.com (Q4 data)