Xiaomi

Workers at the Xiaomi EV factory work 10-11 hours a day, six days a week, according to local media.

Nio vehicles saw a record 6,700 insurance registrations in China last week, up 24.07 percent from 5,400 the week before.

Xiaomi said cumulative deliveries of the SU7 series amounted to 15,764 units in 2024, implying that deliveries in April were also revised slightly upwards.

Xiaomi EV's deliveries in May rose 22.27 percent from April's 7,058, as it continues to face capacity bottlenecks.

Earlier today, rumors spread that Xiaomi EV was planning to acquire a 58.5 percent stake in Evergrande NEV in order to use the latter's existing factories to address its capacity issues.

During the May 1-26 period, insurance registrations for Nio vehicles were 15,400, Tesla 43,900, BYD 209,900 and Xiaomi 6,700.

Xiaomi has added CATL batteries to the standard variant of the SU7 instead of just BYD batteries as it did earlier to boost capacity.

Multiple media reports have previously suggested that Xiaomi's second model will be an all-electric SUV that will go into production in 2025.

Xiaomi EV will challenge a delivery target of 120,000 units for the full year 2024, implying a 20 percent increase from the previous target of 100,000 units.

Xiaomi's smart driving team has now surpassed 1,000 people, with plans to add an extra 500 by the end of the year, Xiaomi EV said.