Chinese tech giant Xiaomi is enjoying early success in its electric vehicle endeavor with strong demand for its inaugural SU7 sedan. This upward trend prompted the company to raise supply chain orders for the SU7 by 80%, local media outlet Wallstreetcn reported.
Xiaomi scrambles to meet growing demand for SU7 EV
While the Xiaomi SU7 receives a warm welcome among Chinese customers, the surging number of orders presents significant challenges for the company.
According to the report, Xiaomi is now scrambling to obtain critical components for the SU7 production. In effect, Xiaomi’s component orders to several suppliers have ballooned by 80%.
CnEVPost also revealed that the Chinese EV startup had to increase monthly orders for one category of parts from roughly 10,000 units to 18,000 units.
The sudden demand growth for the Xiaomi SU7 appears to have surprised the company, considering it launched the electric sedan only in March 2024.
Xiaomi SU7 orders and wait times
Starting at only about $29,830, the Xiaomi SU7 has stimulated significant interest among Chinese customers.
It sports a sleek design packed with a wide range of innovative features. These considered limited-edition models sold out quickly. Even more, cumulative locked-in orders exceeded 88,000 units by the end of April 2024.
Strong customer demand has substantially prolonged order wait times. According to the report, orders placed today indicate at least 30 weeks of wait time. Several top-tier trims even demand a 37-week wait.
In response, Xiaomi seeks to boost the SU7’s monthly production to more than 10,000 units by June 2024.
CEO Jun’s confirmation
Xiaomi CEO Lei Jun confirmed the ongoing production issue for the SU7 sedan in a Weibo post last month.
The Xiaomi boss even encouraged prospective customers to buy other electric vehicles like the Luxeed S7, Nio ET5, and the Xpeng P7 instead if they can no longer wait for the SU7.
“If you are really in a hurry to buy a car, domestic new energy vehicles are all good, such as Zhijie S7, NIO ET5, Xpeng P7 series, etc. You can also consider buying one!”
Xiaomi CEO Lei Jun
The Xiaomi SU7 currently offers three variants, including the RMB 215,900 ($29,850) standard, RMB 245,900 ($34,000) Pro, and RMB 299,900 ($41,500) Max. Xiaomi aims to increase its current production output to meet its 100,000-unit delivery target in 2024.
