New electric vehicle player Xiaomi Automobile has successfully completed its factory capacity ramp-up in China. With this advancement, the Chinese company now aims to hit its minimum 100,000-unit delivery target by early November, almost two months ahead of schedule.
Xiaomi EV ramp-up surges ahead of schedule
On Friday, Xiaomi Founder, Chairman, and CEO Lei Jun proudly announced on local social media platform Weibo that the company’s electric vehicle ramp-up in China is officially complete.
In this sense, Xiaomi is now eyeing to achieve its 100,000 unit production target for the year as early as November 2024.
On July 2, Xiaomi announced in a letter to order holders that the Xiaomi SU7’s delivery ramp-up was progressive. Its Chinese factory reportedly launched double-shift production in June, enabling single-month deliveries to top 10,000 units.
In hindsight, the company officially rolled its first customer electric car off its production lines in May, cranking out an initial 10,000 monthly units. According to recent updates from CEO Jun, the company can surpass 10,000 in July en route to its revised production target of 100,000.
Early success
Xiaomi’s debut electric vehicle model, SU7, has sold over 30,000 units in just more than three months since its market launch in late 2023.
While Xiaomi started with an initial production target of 60,000 SU7s in 2024, strong demand prompted the company to boost production to keep up.
As mentioned, the company expects deliveries of the SU7 electric full-size sedan to also surpass 10,000 units in July 2024.
“I just looked at the instant delivery data in the backend, and with seven days left in the month, it’s not challenging for deliveries to continue to exceed 10,000.”
Xiaomi General Manager of Public Relations, Wang Hua
Distribution network expansion
Xiaomi is also on track to deploy 220 sales stores, 135 service stores, and 53 delivery centers in 59 cities nationwide by December this year.
It indicates a notable increase from Xiaomi’s current 93 sales stores, 57 service stores, and 30 delivery centers in 31 Chinese cities.
The major production headway is indeed remarkable, considering that Xiaomi’s announcement of its electric carmaking plans was only three years ago. Despite being a new player, it managed to quickly make a significant impact in the industry. This year, Xiaomi’s EV production will be highly likely to sit somewhere between 100,000 and 120,000.
