Xiaomi EV aims to deliver 120,000 vehicles in 2024

Beijing (Gasgoo)- On May 23, Xiaomi Group released its financial report for the first quarter of 2024. During the earnings call, Lu Weibing, partner and president of Xiaomi Group, shared updates on Xiaomi EV, emphasizing the company's commitment to achieving the goal of "immediate delivery upon launch" by ramping up production capacity and ensuring timely deliveries.

Lu Weibing disclosed that Xiaomi's automotive factory will start operating in double shifts in June to boost production capacity. He expressed confidence that monthly deliveries for the SU7 model in June could surpass 10,000 units, with a target of 120,000 units for the entire year of 2024.

Since its market launch on March 28, the Xiaomi SU7 has seen strong sales. Following the product launch, orders surged, with confirmed orders reaching 88,063 units by midnight on April 30.

Xiaomi Group's Founder, Chairman, and CEO, Lei Jun, previously stated that Xiaomi EV’s factory is capable of producing 40 Xiaomi SU7 vehicles per hour, or one vehicle every 76 seconds. With the initiation of double shifts, the factory's full monthly production capacity is expected to reach nearly 20,000 vehicles.

Additionally, Xiaomi is progressing with the construction of its second-phase factory, located in Beijing’s Yizhuang New Town. This new facility, planned to have an annual production capacity of 150,000 vehicles, is scheduled to begin construction in 2024 and be completed by 2025.

Xiaomi also plans to expand its sales and service network significantly. By the end of 2024, Xiaomi EV aims to establish 219 sales stores across 46 cities and 143 service centers covering 86 cities in China.