- Xiaomi EV has reached the milestone of 500,000 cumulative deliveries, achieving its 2025 annual delivery target of 350,000 units ahead of schedule.
- Xiaomi EV said on November 20 that it was expecting to deliver over 400,000 vehicles this year.
Xiaomi EV achieved its upwardly revised 2025 delivery target about one month ahead of schedule, as the electric vehicle (EV) unit of Xiaomi (HKG: 1810, OTCMKTS: XIACY) reached a key milestone.
Since commencing deliveries on April 3, 2024, Xiaomi EV has now surpassed 500,000 cumulative deliveries, the company announced today on Weibo.
Xiaomi EV's November deliveries again exceeded 40,000 units, surpassing the 350,000 annual target set at the beginning of 2025, it said.
Xiaomi EV celebrated the production of its 500,000th vehicle on November 20, when it said deliveries this year were expected to exceed 400,000 units.
Xiaomi officially announced its entry into the automotive manufacturing sector on March 30, 2021, making it a relatively latecomer among new EV makers.
It formally launched its first model, the SU7 electric sedan, on March 28, 2024, positioning it as a competitor to Tesla (NASDAQ: TSLA) Model 3.
On February 27 this year, Xiaomi launched the SU7 Ultra, a high-performance electric sedan based on the SU7.
On June 26, Xiaomi launched the YU7 SUV (sport utility vehicle), a competitor to Tesla's Model Y.
The company initially targeted delivering 300,000 vehicles in 2025, a goal raised to 350,000 units in March.
Strong deliveries boosted the financial performance of Xiaomi's EV business. In the third quarter, Xiaomi's innovative business -- which includes EVs and AI -- achieved its first quarterly profit.
Notably, China's new energy vehicle (NEV) purchase tax incentives will be scaled back next year. Xiaomi EV, like some other domestic peers, has taken action to deliver more vehicles before year-end.
Xiaomi EV announced yesterday that it has produced a batch of vehicles for expedited delivery.
Customers with firm orders but pending delivery could begin selecting these vehicles starting yesterday, including brand-new stock units, official display models, and near-new vehicles. New customers will be able to choose from these vehicles beginning December 3.
