Xiaomi EV reported over 28,000 vehicle deliveries in April, marking the seventh consecutive month exceeding 20,000 units. The recently launched SU7 competes with the Tesla Model 3, available in Standard, Pro, and Max versions, priced from approximately $29,700 to $41,250. The high-performance SU7 Ultra, with 1,548 horsepower, starts at $72,900, with deliveries ongoing since March. Despite strong demand, production capacity issues have led to a delivery wait of about 40 weeks, increasing from 30 weeks. Xiaomi’s competitive pricing and sleek design have garnered consumer interest, but addressing production challenges is essential for future success.
Xiaomi EV, the electric vehicle division of the tech powerhouse Xiaomi, recently shared on Weibo that it achieved over 28,000 vehicle deliveries in April. This marks the seventh consecutive month in which Xiaomi EV’s monthly figures have surpassed 20,000 units. Although this count is slightly lower than the “over 29,000 units” registered in March, it nevertheless highlights the significant demand the company is facing.
The Xiaomi SU7, which officially launched on March 28, 2024, is positioned as a contender against the Tesla Model 3, albeit with dimensions comparable to the Model S. It is available in three different versions: the Standard, Pro, and Max. The Standard model is competitively priced around $29,700 (RMB 215,900), while the Pro and Max versions cost RMB 245,900 ($33,800) and RMB 299,900 ($41,250), respectively. Deliveries for both the Standard and Max models commenced in April 2024.
In an effort to expand its EV offerings, Xiaomi EV also introduced the SU7 Ultra on February 27. This high-performance electric sedan boasts 1,548 horsepower and is based on the design of the original SU7. The SU7 Ultra starts at RMB 529,900 ($72,900), with deliveries having begun in March. Xiaomi EV plans to enhance its lineup further with the upcoming YU7, an electric SUV expected to launch in June or July.
The strong demand and steady delivery figures cannot disguise that Xiaomi EV is facing challenges with its production capacity. Reports from CnEVPost indicate that customers who order the new SU7 are now facing delivery waits of about 40 weeks. This is a notable increase from the initial wait time of around 30 weeks when the model was first introduced last year, indicating a growing backlog of orders.
Xiaomi’s entry into the market with the SU7 has evidently struck a chord with consumers. The blend of competitive pricing, modern design, and technology has made the SU7 a compelling choice in the increasingly saturated EV market. The longer delivery times illuminate the hurdles new entrants encounter in ramping up production to meet high consumer demand. Effectively addressing these production challenges will be vital for Xiaomi EV to leverage its current momentum.
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