Xiaomi Hits 20,000 EV Deliveries in October in Rapid Expansion

Chinese cell phone giant Xiaomi delivered over 20,000 units of its SU7 electric vehicle (EV) in October, marking a strong start in a market dominated by heavyweights like Tesla, Xpeng, and BYD.

With this rapid entry into the EV sector, Xiaomi now projects it will deliver 100,000 SU7s by the end of November. October’s results bring Xiaomi’s total deliveries of the SU7 to 75,000 units, placing it on an accelerated trajectory in China’s competitive EV landscape.

The tech company first announced its automotive ambitions in 2021, swiftly moving to build a dedicated manufacturing plant, and launched the SU7 earlier this year at a price point around $4,000 lower than Tesla’s Model 3 in China.

On the heels of this milestone, Xiaomi opened preorders for the SU7 Ultra, a high-end sports model priced at $114,304, with an anticipated release in March 2025. The Ultra model reportedly secured over 3,600 preorders within 10 minutes of its announcement.

What Does This Mean for Me?

Analysts responded to these developments by raising their forecast for Xiaomi’s EV deliveries to 250,000 units in 2024, up from the previously estimated 238,000. They also noted Xiaomi’s latest SU7 Ultra prototype’s performance at the Nürburgring in Germany, which they believe could drive further interest in the premium SU7 Max.

As it scales production and explores new models, Xiaomi appears set to solidify its presence, potentially paving the way for future overseas expansion within a few years.