- Xiaomi EV said it has a delivery target of 300,000 units in 2025, and will continue to expand capacity in the new year.
- Xiaomi EV is expected to launch its second model, the YU7, this summer.
Xiaomi EV, the car-making unit of Xiaomi (HKG: 1810, OTCMKTS: XIACY), said deliveries of its first model, the SU7, once again topped 20,000 units in January.
To date, the SU7 electric sedan has delivered more than 20,000 units in four consecutive months, Xiaomi EV said on Weibo today, without mentioning specific numbers as before.
Xiaomi EV is targeting deliveries of 300,000 units for the whole of 2025 and will continue to expand capacity in the new year, it said.
Xiaomi officially launched the SU7 on March 28, 2024, 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 April last year, and deliveries of the SU7 Pro began in May.
The SU7 surpassed Tesla's (NASDAQ: TSLA) Model 3 deliveries in China four times in 2024, according to data compiled by CnEVPost.
On December 31, Xiaomi founder, chairman, and CEO Lei Jun said in a live video that the company delivered more than 135,000 vehicles in 2024, with a goal of delivering 300,000 in 2025.
Apart from the SU7, Xiaomi's next product pipeline will include a performance variant of the sedan as well as an SUV (sport utility vehicle) model.
Xiaomi announced on October 29, 2024, that the powerful SU7 Ultra became available for pre-sales in China at a price of RMB 814,900, nearly four times the starting price of the regular SU7.
The official release of the SU7 Ultra will be in March 2025, the phone maker said on October 29.
Xiaomi announced in early December that it named its second EV model the YU7, with the SUV's launch expected to be in June or July 2025.
Xiaomi EV added 16 new sales outlets in January, bringing the total to 216 covering 64 cities, it said today.
The EV maker plans to add five new stores in February.
As of now, 31 Xiaomi EV service centers and authorized service centers have opened.
($1 = RMB 7.2514)
Goldman Sachs expects Xiaomi to sell 350,000 EVs in 2025 and 655,000 in 2026
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