Chinese smartphone giant Xiaomi announced on Tuesday that it had delivered over 20,000 SU7 electric vehicles (EVs) in October, as the company ramps up production for its EV venture in the fiercely competitive Chinese market. Xiaomi, which is primarily known for its smartphones and home appliances, also revealed plans to deliver 100,000 SU7 vehicles by the end of November. The company began building a dedicated EV manufacturing plant in 2021 after announcing its intention to enter the automotive industry.
Xiaomi’s first car, the basic version of the SU7, was released in late March and was priced approximately $4,000 lower than Tesla’s cheapest car in China at the time, the Model 3. Following Xiaomi’s announcement, Tesla reduced the price of the Model 3 by around $2,000. To date, Xiaomi has delivered over 75,000 SU7 cars, including October’s figures.
Other Chinese electric car companies, such as Xpeng and Nio, took about six years to produce 100,000 electric cars, while it took Tesla 12 years to reach the same milestone. In September, Xpeng delivered a record of over 20,000 cars, with approximately half attributed to its newly launched, lower-cost brand Mona. However, Nio has struggled to maintain monthly deliveries above 20,000 cars.
Zeekr, an electric car brand founded by automaker Geely, claims to have produced more than 100,000 vehicles in just 1.5 years and delivered a record 21,333 cars in September.
Xiaomi also announced on Tuesday that it was taking preorders for the high-end sports version of the SU7, the SU7 Ultra, starting at 814,900 yuan ($114,304), ahead of a product release in March 2025. Within 10 minutes, the company received over 3,600 preorders, each requiring a 10,000 yuan deposit.
According to data from Chinese car industry site Autohome, Tesla’s Model Y was the best-selling battery-powered electric car in China in September, with 48,202 vehicles sold. The Model 3 ranked 8th with nearly 24,000 cars sold. Xiaomi’s SU7 ranked 17th last month, with 13,559 cars sold. Currently, Xiaomi only sells its cars in China, and the company told CNBC earlier this year that it would take at least two to three years for any overseas launch.
