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The 2024 Beijing International Automotive Exhibition kicks off today. In a press conference, Lei Jun, the Chairman and CEO of Xiaomi Group, revealed the Xiaomi SU7 secured lock-in orders (non-refundable deposits) of 75,723 units, with 5,781 units delivered as of 24 April, only 28 days after its initial launch.
Xiaomi launched the SU7, its first all-electric sports saloon, on 28 March. Just a little over a month after its initial launch, as of 30 April, the SU7 had secured lock-in orders (non-refundable deposits) of 88,063 units in China. Is the popularity of the SU7 caused by the irresistible charisma of Lei Jun, Xiaomi’s Chairman and CEO? Or is it the Taycan-inspired exterior design? Let’s take a closer look!
The 2024 Beijing International Automotive Exhibition kicks off today. In a press conference, Lei Jun, the Chairman and CEO of Xiaomi Group, revealed the Xiaomi SU7 secured lock-in orders (non-refundable deposits) of 75,723 units, with 5,781 units delivered as of 24 April, only 28 days after its initial launch.
Lei Jun, CEO of Xiaomi, shared that the gross profit margin of the Xiaomi SU7 is approximately 5% to 10% with good support from its suppliers, at Xiaomi’s 2024 Investor Day on April 23 in China. Lei Jun further added that the specific margin figures need to be confirmed again since the sales volume is much higher than expected.
Today Chinese media have more articles about the supposedly new Luxeed S7 than the Luxeed S7 has sold since deliveries began in November last year. The re-release sees the Huawei backed model range increase from four to five and bring in a host of improvements and notably see that all cars in the range can now achieve a range of at least 630 km CLTC.
Xiaomi will deliver 60,000 vehicles in 2024 and lose money in the first two years, a financial research firm CreditSights announced. Meanwhile, local media reported that Xiaomi’s Beijing factory’s production capacity is 4,000 – 5,000 units in April and gradually ramp up to 6,000 units by the end of the year.
On April 3, Xiaomi Auto officially started deliveries of the first batch of its electric car SU7. Xiaomi founder and CEO Lei Jun personally took part in the event, giving the first cars to their owners. The first batch of the SU7 is limited to 5,000 cars. Meanwhile, Xiaomi gained over 100,000 firm orders for this vehicle, with 40,000 locked orders.
BEIJING — Shares of China's Xiaomi surged as much as 16% on Tuesday as the electronics maker's sporty electric vehicle launched last week drew strong interest, though a brokerage forecast the firm would lose nearly $10,000 per car this year.