- Xiaomi has begun its first deliveries of the YU7 in 58 cities across China, with its founder personally handing over vehicles to some owners.
- The wait times for the YU7 has been extended across the board, while the SU7 series has seen wait times shortened.
Xiaomi (HKG: 1810, OTCMKTS: XIACY) has started delivering the YU7, but production constraints have extended the wait times for its first electric SUV (sport utility vehicle) to as long as 14 months.
Xiaomi EV, the smartphone giant's electric vehicle (EV) unit, announced today on Weibo that the first deliveries of the YU7 have begun, with Xiaomi founder, chairman, and CEO Lei Jun personally handing over vehicles to some owners.
Xiaomi EV did not disclose the number of YU7 vehicles delivered in the first batch but said that deliveries began today in 58 cities across China.
With deliveries underway, the wait time for the YU7 has further increased.
Customers purchasing the standard version of the YU7 now face a waiting period of 59-62 weeks for delivery, up from 58-61 weeks as of Friday, according to daily monitoring by CnEVPost.
For the two variants of the YU7 -- Pro and Max -- the latest wait times are 53-56 weeks and 45-48 weeks, respectively, up from their previous 51-54 weeks and 39-42 weeks.
Meanwhile, the wait time for the entry-level version of Xiaomi's first model, the SU7 sedan, has also increased, while the two higher-priced variants have seen shorter wait times.
The standard version of the SU7 now has a wait time of 38-41 weeks, slightly higher than the previous 33-36 weeks. The SU7 Pro now has a waiting time of 35-38 weeks, down from the previous 49-52 weeks; the SU7 Max is 33-36 weeks, down from the previous 38-41 weeks; and the SU7 Ultra is 15-18 weeks, down from the previous 18-21 weeks.
Following the launch of the YU7, there were concerns that the SUV might cannibalize SU7 orders, but Lei had downplayed these concerns.
Less than 15 percent of total YU7 orders were transferred from the SU7 and SU7 Ultra, Lei said during a live video stream on July 2.
Xiaomi launched the YU7 on June 26, positioning it as a competitor to the Tesla (NASDAQ: TSLA) Model Y. The three variants start at RMB 253,500 ($35,380), RMB 279,900, and RMB 329,900.
The YU7 received 200,000 firm orders within the first three minutes of sales and over 240,000 locked-in orders within 18 hours, Xiaomi previously announced.
Xiaomi has already produced some YU7 vehicles and allowed consumers to directly lock in orders, enabling a swift start to deliveries.
The company has not previously mentioned when deliveries of customized YU7 vehicles will begin, though its mobile app previously indicated this would occur in August.
The launch of the YU7 further intensifies Xiaomi's production capacity challenges. Currently, the company's operational factory is the phase 1 facility of its EV plant in Beijing, with an annual production capacity of 150,000 units.
Starting in June 2024, the phase 1 factory began implementing a two-shift production to meet demand for its first model, the SU7 series.
Last week, local media outlet Sina Tech reported that Xiaomi EV's phase 2 factory was conducting large-scale hiring to prepare for mass production.
Previous reports from some local media outlets indicated that the phase 2 project of the factory would be completed by mid-June and officially commence production in July-August.
($1 = RMB 7.1653)
