Xiaomi SU7

Xiaomi founder Lei Jun calls the production version of the SU7 Ultra his dream car and the dream car built by Xiaomi EV for those seeking performance.

Xiaomi unveiled the SU7 Ultra prototype in July with 1,548 horsepower. It had previously said that the official launch of the production version of the SU7 Ultra would be in the first half of 2025.

Xiaomi EV said its factory will continue to ramp up capacity in October, with a production target of 20,000 units in a single month.

Xiaomi said deliveries of the SU7 exceeded 10,000 units in August, marking the third consecutive month over the 10,000 mark, without mentioning a specific number.

The production version of the SU7 Ultra, the most capable variant of Xiaomi's SU7, will be launched in the first quarter of 2025, Xiaomi CEO Lei Jun said.

In the second quarter of 2024, Xiaomi's innovative businesses, including smart EVs, generated total revenue of RMB 6.4 billion ($900 million), with a gross margin of 15.4 percent.

Xiaomi SU7 deliveries exceeded 10,000 units in July and will continue to exceed the mark in August, Xiaomi EV said, adding that it expects to meet its full-year 100,000-unit delivery target ahead of schedule in November.

The production version of the Xiaomi SU7 Ultra will go on sale in the first half of next year, and will use the same chassis structure, triple motors and battery pack as the prototype.

Xiaomi CEO Lei Jun didn't mention what the crisis event was, and he is expected to elaborate in a presentation this Friday.

Xiaomi has re-filed for the SU7, with the manufacturer becoming Xiaomi itself instead of the previous BAIC.