Xiaomi EV, the electric vehicle arm of Chinese tech giant Xiaomi, has reported another strong performance in November 2024, with deliveries of its SU7 model surpassing 20,000 units for the second consecutive month. Despite this growth, the company continues to face a bottleneck in production capacity, with customers now facing wait times of up to 19 weeks for their orders, according to information monitored by CnEVPost.
Xiaomi EV has set a new delivery target of over 130,000 units for the full year of 2024, following strong demand for the SU7. “We are confident in reaching our new target of over 130,000 units for this year,” the company stated on its official Weibo account. The SU7, which was launched in March 2024, is available in three versions—Standard, Pro, and Max—with prices ranging from RMB 215,900 ($29,810) to RMB 299,900.
The company had initially aimed to deliver 100,000 units in 2024, a target it exceeded earlier this year. Xiaomi’s founder, Lei Jun, announced on November 18 that the SU7 had already surpassed 100,000 deliveries, prompting the company to revise its goal upward to 130,000 units. This represents a significant step up from its previous target of 120,000 units.
Production capacity remains a key challenge for Xiaomi EV. As of November 2024, the company’s monthly production of the SU7 is expected to reach 24,000 units, but this remains below the demand. To address this, Xiaomi is pressing forward with the second phase of its EV factory, which began double-shift operations in November 2024. The expanded facility is expected to be operational by mid-2025, increasing annual production capacity to 300,000 units, reports said.
