Xiaomi has taken the EV market by storm, surpassing its revised delivery target with over 130,000 SU7 electric sedans sold in 2024. The company's impressive debut performance signals strong competition for Tesla and other leading brands.
Xiaomi SU7 Surpasses Delivery Expectations in Debut Year
A subsidiary of the Chinese tech behemoth Xiaomi, the SU7 electric vehicle has released its first performance metrics. Xiaomi sold and delivered over 130,000 SU7s in the year of its introduction, surpassing even its amended delivery target. This is a remarkable feat for a new player in the very competitive EV market, Arena EV shares.
With three available trim levels (Standard, Pro, and Max), the SU7 was introduced in December 2023 and started shipping in April 2024. Priced between RMB 299,900 (€36,900) and RMB 215,900 (€26,600) for the Standard and Max, respectively, the SU7 is positioned to compete with mid-size electric sedans like the Tesla Model 3 and others.
Strong Demand Drives Success for Xiaomi SU7
In April, we sent out the Standard and Max editions, and in May, we sent out the Pro edition.
In 2024, Xiaomi had originally planned to ship 100,000 SU7s, but that target was later adjusted to 120,000 units. Sales for the SU7 surpassed all expectations, thanks to strong demand and a smooth ramp-up in manufacturing.
After announcing in November that it had delivered 100,000 automobiles, Xiaomi revised its annual goal to 130,000 units. This lofty objective was also accomplished ahead of time.
Xiaomi Expands EV Portfolio with SU7 Ultra and YU7 SUV
The SU7 Ultra, an upgraded version of the sedan, and the YU7, an electric SUV, will be joining Xiaomi EV's current portfolio in the near future. March 2025 is when we might expect to see the introduction of the SU7 Ultra, which will retail for RMB 814,900 (a little over €100,000), while the YU7 will be ready for release sometime around the middle of that year.
Thanks to the SU7's stellar first year, Xiaomi has a solid platform to expand upon, and the two-year-old electric vehicle maker appears capable of accomplishing any objective, no matter how lofty.
