- This is the sixth consecutive month that Xiaomi EV has seen monthly deliveries exceed 20,000 units.
- Xiaomi EV said it is confident of reaching its annual delivery target of 350,000 units.
Xiaomi EV delivered over 29,000 cars in March, the electric vehicle (EV) unit of Xiaomi (HKG: 1810, OTCMKTS: XIACY) announced today.
As it has done in the past few months, Xiaomi EV did not provide specific figures as other local EV makers did.
This is the sixth consecutive month that Xiaomi EV has seen monthly deliveries exceed 20,000 units.
Xiaomi EV's current capacity ramp-up is going well, and the company is confident that it will achieve its annual delivery target of 350,000 units, it said on Weibo.
Xiaomi EV officially launched the SU7 electric sedan on March 28, 2024, which is a competitor to Tesla's (NASDAQ: TSLA) Model 3.
The SU7 comes in three variants -- Standard, Pro, and Max -- with starting prices of RMB 215,900 ($29,720), RMB 245,900, and RMB 299,900, respectively.
Deliveries of the standard and Max versions of the SU7 began in April 2024, and deliveries of the SU7 Pro began in May 2024.
On February 27, Xiaomi officially launched the SU7 Ultra, the company's electric sedan with a maximum horsepower of 1548 Ps based on the regular SU7.
The starting price of the SU7 Ultra is RMB 529,900, and deliveries began on March 2.
In 2024, the regular SU7 received more than 248,000 locked-in orders and delivered more than 135,000 vehicles, according to data previously released by Xiaomi EV.
In the fourth quarter, Xiaomi delivered 69,697 SU7 series vehicles, an increase of 3.78 percent from 67,157 in the third quarter, according to Xiaomi's financial report released on March 18.
In addition to the SU7 and SU7 Ultra, Xiaomi is expected to launch the YU7 in June or July, an electric SUV (sport utility vehicle) that will compete with Tesla's Model Y.
Xiaomi is expanding its planned second EV factory in Beijing, a Bloomberg report on March 19 quoted an informed source as saying.
The company began construction last year on its second factory on a 53-hectare plot in Beijing's Yizhuang district, which it bought for RMB 842 million yuan, the report noted, adding that the plant would start production in the middle of this year.
The current phase one of Xiaomi EV's Beijing plant has a planned annual production capacity of 150,000 vehicles. Its phase 2, which has a planned annual production capacity of 150,000 vehicles, is under construction.
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