Lei Jun, Founder and CEO of Xiaomi, hailed the over 75,000 lock-in orders for Xiaomi SU7. He also that the company aims to deliver over 10,000 units in June.
“While it feels like a long time, it’s actually only been 28 days since we launched Xiaomi SU7 in the domestic market,” the CEO wrote on X (formally Twitter) on April 24.
“This morning at the Beijing Auto Show, I was thrilled to share some exciting progress. As of April 24th, we’ve secured 75,723 lock-in orders. Over 5,000 new orders have been placed in the past four days. Even more impressive is that we’ve delivered 5,781 units within just 28 days!”
Locked-in orders 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 launched its car, which draws styling cues from Porsche, in March this year. It enters a crowded China EV market with an attention-grabbing price tag of under $30,000 for the base model, which is $4,000 cheaper than the base model of Tesla’s Model 3 in China.
Xiaomi targets more than 1,00,000 deliveries for the SU7 in 2024 and intends to keep its automotive business “100 percent focused” on the Chinese market for the next three years, Lei said at an investor conference on April 23.
The company brought forward deliveries of the standard and Max versions of the SU7 to April 18, 12 days earlier than initially planned, according to a report in Reuters. Besides the two trims, Xiaomi previously said it plans to start deliveries of Pro models by the end of May.
“I knew Xiaomi SU7 would face intense scrutiny. As expected, after its launch, people were examining it closely for any potential issues. But I’m glad Xiaomi SU7 has been very well-received. I couldn’t be prouder,” Jun wrote.
The company has said that it expects to lose money on the SU7.
Better known for making affordable smartphones and home appliances, Xiaomi intends to invest another 11-12 billion yuan this year in new businesses including the automotive unit and the operating mobile system for its phones, he said.
