Xiaomi is working to boost vehicle production capacity as delivery wait times for its SU7 electric sedan remain high. Founder and CEO Lei Jun visited the company’s Beijing EV factory to discuss expansion efforts, stating on Weibo, “I am in the R&D center of our car factory, with the paint shop outside my window.”
The first phase of Xiaomi’s EV plant, with an annual capacity of 150,000 units, is already operational. Construction of the second phase, located nearby, is underway with double shifts to speed up progress.
Xiaomi aims to complete the plant by the end of 2024 and meet its target of delivering 300,000 vehicles by 2025.
Launched in March 2024, the SU7 competes with Tesla’s Model 3 and is available in three variants, with prices starting at RMB 215,900 ($29,630). Despite being on the market for nearly a year, demand remains strong, with wait times still around six months.
Xiaomi is also preparing to launch the SU7 Ultra, an ultra-performance variant, at the end of February, ahead of the initially planned March release. Lei confirmed, “The SU7 Ultra’s sales target for this year is 10,000 units.”
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Further expanding its lineup, Xiaomi announced in December that its second EV model will be named YU7, with an SUV launch scheduled for mid-2025.