Xiaomi can manufacture 50-60k units of SU7 this year, received over 100,000 orders

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.

This results in a possible 53,000 mass-produced vehicles in 2024, including 5,000 cars finished before the March 28 launch conference. Those 5k cars are called Founders Edition (FE) and were assembled in previous months – the company started deliveries of those on April 3. FEs are promoted to the Xiaomi’s hardcore fans with various perks and benefits.

Another Chinese media outlet, MyDrivers, reported today that Xiaomi is currently producing 300 cars a day, which is not enough to satisfy the demand. The waiting times for new orders increased to seven months.

The Xiaomi SU7 electric sedan, with a starting range of 700 km, was launched on March 28 in China at a price of 215,900 yuan (29,900 USD). The company received 50,000 orders in the first 27 minutes after the launch and 100,000 orders as of Wednesday.

Customers who place orders must deposit 5,000 yuan (700 USD), which becomes non-refundable days. If they choose to lock in the configuration, the deposit is immediately non-refundable, reportedly receiving 40,000 lock-in orders.

Lei Jun admitted that the company is losing money on its entry-level variant SU7 RWD standard. The deliveries of the SU7 Standard and Max AWD variants will begin at the end of April. The Pro will start deliveries later in May with an 830 km CLTC range. The current deliveries, which began on Wednesday, April 3, are only Founder Edition, about 5,000 cars Xiaomi assembled before the official launch.

Xiaomi also asked its suppliers to increase their production capacity to match the factory’s monthly output of 10,000 units. Xioami Su7 is contract manufactured by state-owned BAIC in the Beijing plant. On paper, the factory’s capacity is 150,000 units/year. In 2025, the construction of the second phase of the factory will begin. After the second phase is finished, the plant’s output will reach 300,000 units/year.

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