Xiaomi’s electric vehicle (EV) production is ramping up to meet rising demand, with monthly output of its SU7 model expected to hit 24,000 units by the end of 2024, local media reported on Tuesday. This marks a significant increase in production capacity as the company works to fulfill growing orders for its first EV model.
The SU7, which was launched in March 2024, is manufactured at Xiaomi’s Beijing-based factory, with phase one having an annual capacity of 150,000 units. In October, the plant operated at 160% capacity, producing over 20,000 units, which suggests a near doubling of production targets. To alleviate pressure, Xiaomi is aiming for 24,000 units per month in November and December, according to 36kr.
“Xiaomi has started double-shift production since June to meet the demand,” the company said in its second-quarter earnings report. However, capacity constraints remain, and customers are facing extended wait times, with delivery delays of at least 21 weeks for the SU7.
Despite the production challenges, Xiaomi is exceeding its delivery expectations, with the company now targeting 120,000 units for 2024, up from the initial goal of 100,000 units. Orders for the SU7 have stabilized at about 4,000 units per week since August.
In addition to the SU7, Xiaomi has begun pre-sales for the higher-performance SU7 Ultra, which is priced nearly four times higher than the standard model. The pre-sales for the SU7 Ultra saw significant interest, with 3,680 orders placed within 10 minutes of opening.
To support this growing demand, Xiaomi is fast-tracking the construction of phase two of its EV plant, which is expected to be completed by June 2025. This second phase will double the plant’s capacity to 300,000 units annually, easing production pressures.
As part of its expansion plans, Xiaomi is also set to launch an SUV model, codenamed MX11, in 2025, further pushing the company’s footprint in the competitive EV market.
