Xiaomi Corp. has once again revised its electric vehicle delivery target for this year, aiming to deliver 130,000 units.
This upward adjustment marks the third time the company has increased its forecast, as the demand for its first EV model, the SU7 sedan, continues to surge.
CEO Lei Jun announced the new target on social media, citing strong consumer interest. Xiaomi initially set a delivery goal of 76,000 units for the SU7 when it was launched earlier this year. However, the company has since doubled production shifts and introduced a premium version, the SU7 Ultra, priced at over $110,000, to meet growing demand.
In the third quarter, Xiaomi delivered 39,790 SU7 series vehicles, bringing the total deliveries to 67,157 units since its launch on March 28th.
Xiaomi’s President Lu Weibing confirmed that the company’s factory now has the capacity to produce 20,000 cars per month, with potential for further expansion.
While Xiaomi’s auto business is still operating at a loss, with an adjusted loss of 1.5 billion yuan in the third quarter, the company remains committed to investing heavily in research and development for new models and autonomous driving technology.
Huatai Securities forecasts that Xiaomi will deliver 400,000 EVs in 2025, with electric cars contributing approximately 20% to the company’s revenue by then.
[source: Reuters]
