Xiaomi locks in over 75,000 orders for SU7 car, targets over 10,000 deliveries in June

BEIJING, (Reuters) – Chinese smartphone maker Xiaomi has locked in 75,723 orders for its sporty SU7 electric sedan as of April 24, and aims to deliver over 10,000 units in June, founder Lei Jun said on Thursday.

The delivery target sets a record for an electric vehicle (EV) startup, Lei said during an event on the first media day of the Beijing auto show.

The locked-in orders, which refer to those where buyers have opted for non-refundable deposits, have come less than one month into the launch of Xiaomi’s first car in late March.

Xiaomi targets more than 100,000 deliveries for the SU7 in 2024 and intends to keep its automotive business “100% focused” on the Chinese market for the next three years, Lei had said at an investor conference on Tuesday.

The company brought forward deliveries of the standard and Max versions of the SU7 to April 18, 12 days earlier than initially planned. Besides the two trims, Xiaomi previously said it plans to start deliveries of Pro models by the end of May.

The debut of the SU7, which draws styling cues from Porsche and undercuts Tesla’s Model 3 on pricing, adds fuel to a blazing EV price war in the world’s largest auto market, with automakers with comparable models announcing price cuts and subsidies after the SU7’s launch.

Xiaomi’s auto team of 6,000 people is far from enough, Lei said at Thursday’s briefing, inviting global talent to join the company’s car-making ambition.

Reporting by Qiaoyi Li and Brenda Goh; Editing by Christopher Cushing