Xiaomi has officially secured a production license, enabling it to assemble its offerings without its manufacturing partner, BAIC.
The Chinese electric vehicle startup is also now developing its third model, following the already available SU7 electric sedan and the upcoming electric SUV.
Xiaomi now set to manufacture EVs independently
Xiaomi finally received the necessary production license to independently produce its electric vehicle models.
The company made it to the “all-electric passenger car manufacturers” list, according to the registration filings released by China’s Ministry of Industry and Information Technology (MIIT) on July 12, 2024.
Xiaomi also changed the filing for registration of its debut model SU7 from carrying the “Beijing Xiaomi” moniker to just “Xiaomi” today.
Notably, the Xiaomi SU7 electric sedan has always undergone production at the company’s factory in the Beijing Economic and Technological Development Zone. However, its production application had previously been under the name of BAIC’s subsidiary.
All that said, Xiaomi has finally overcome a major hindrance in its plans to accelerate its electric vehicle production even without BAIC.
Xiaomi expects to deliver 120,000 EVs in 2024
The endorsement of Chinese regulators can aid Xiaomi in further accelerating its EV production.
For context, Xiaomi has increased its EV delivery target from 72,000 to 120,000 units for this year alone.
The Chinese EV startup expects its upcoming EV models to appeal to a wider pool of customers.
In June 2024, Xiaomi successfully achieved the 10,000-unit production milestone for the SU7. This feat enabled the company to hit a year-to-date delivery record of nearly 26,000 units.
The new 120,000 EV production target indicates a notable increase from the original 72,000 units CEO Lei Jun declared during the annual investor day in April 2024.
Xiaomi to expand current portfolio
Xiaomi’s EV lineup currently only includes one model, the SU7 electric sedan. The debut EV starts at RMB 215,900 ($29,881). It features styling similar to that of the popular Porsche Taycan. It has enjoyed an early success in the Chinese market, accumulating a whopping 88,898 pre-orders in just the first day since its launch on March 28, 2024.
Xiaomi is now working to launch its second offering, an all-electric SUV, in the first of 2025. It has also reportedly started developing its third EV model, which is expected to arrive as an extended-range hybrid vehicle (EREV) for a 2026 market launch.
