Update: said the report about the visit and the production estimate were false.

Xiaomi's first EV model is expected to hit the market in March and deliveries will start in April, with production set to be around 2,000 units in the first quarter, according to local media.

(Image credit: Xiaomi)

Chinese smartphone giant Xiaomi's (HKG: 1810, OTCMKTS: XIACY) first electric vehicle (EV) model will hit the market in March and deliveries will start in April, Tencent News said in a report today, citing a leaked document.

A document about a visit by Beijing officials to Xiaomi's factory in the city was revealed today, which mentions the plan, according to the report.

The Xiaomi EV factory will produce about 2,000 units in the first quarter, with an output value of RMB 400 million ($56 million), the report said, citing the document.

Officials from Beijing's economic development zone confirmed the authenticity of the document, the Tencent News report noted.

Hours after the Tencent News story was published, Xiaomi said in a statement on Weibo that the information was false and that there were no relevant access plans or production estimates. The Tencent News story has also been removed.

Beijing-based Xiaomi's EV plant is located in the Yizhuang Beijing Economic-Technological Development Area. In November 2021, the area's official WeChat account said in a post that Xiaomi would build a 300,000-unit-a-year automotive plant, with an annual production capacity of 150,000 units for phases one and two, respectively.

Xiaomi officially announced its entry into car building on March 30, 2021, and on December 28, 2023, it gave its first model, the SU7, its debut. The pricing of the model is yet to be announced and the official launch date is yet to be set.

Xiaomi Group president Lu Weibing said the official launch of the Xiaomi SU7 will come "very soon" and indicated that domestic deliveries will begin as soon as the second quarter, according to a February 26 CNBC report.

On February 27, a executive said in a media roundup following the launch of the company's updated Zeekr 001 that he had heard that Xiaomi's first EV model would be officially launched on March 28.

Xiaomi later responded by saying that the exact release date of the Xiaomi SU7 would be announced through official channels.

On January 31, local media outlet 36kr reported that Xiaomi plans to see production of its EV model reach around 2,000 units in March, and complete its capacity climb by mid-2024, with production of up to 10,000 units in July.

($1 = RMB 7.1954)

Xiaomi's 1st EV model to start deliveries as soon as Q2, exec indicates