Xiaomi reportedly raises SU7 delivery target from 100,000 to 120,000 units in 2024
Chinese smartphone giant Xiaomi is reportedly aiming for a higher delivery target, following the popularity of its first electric vehicle (EV) model, the SU7.
With orders for the Xiaomi SU7 continuing to rise, Xiaomi EV will challenge a 120,000-unit delivery target for the whole of 2024, local media outlet Securities Times said today, citing sources.
Previously, Xiaomi disclosed a SU7 delivery target of over 100,000 units, the brief report noted, without providing anything more.
Xiaomi officially launched the SU7 on Mar 28, offering three versions -- standard, Pro, and Max -- with starting prices of RMB 215,900 ($29,800), RMB 245,900, and RMB 299,900, respectively.
Deliveries of the standard and Max versions of the SU7 began in Apr, while deliveries of the SU7 Pro began earlier this month. In Apr, Xiaomi delivered 7,058 SU7 units.
On May 15, Xiaomi EV said it completed the delivery of its 10,000th SU7 and said it was continuing its efforts to ramp up production capacity to ensure it meets its 100,000-unit delivery target for the year.
Xiaomi was targeting SU7 deliveries to exceed 10,000 units in a single month in Jun, it said in its first quarter 2024 financial results announced earlier today.
By the end of 2024, Xiaomi EV's sales and service network will include 219 sales stores covering 46 cities and 143 service centers across 86 cities, covering almost all provinces, autonomous regions and municipalities in the Chinese mainland, it said.
Xiaomi Group president Lu Weibing said during today's earnings call that the company plans to start double-shift production in Jun and is confident that it will deliver more than 10,000 SU7 units in Jun.
The Xiaomi SU7 has gained unprecedented acceptance since its launch, with 88,063 units of orders locked in as of Apr 30, according to data released by Xiaomi EV on May 1.
Customers currently ordering the SU7 will have to wait at least 30 weeks for delivery, according to data monitored by CnEVPost.
On May 15, local media outlet Cailian reported that Xiaomi EV's factory in Beijing planned to begin a double-shift production model in Jun, increasing its daily production time from eight hours to 16 hours.
With the start of double-shift production, its full monthly capacity is expected to rise to a level of nearly 20,000 units, the report noted.
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