Xiaomi Boosts SU7 EV Sales Target Amid High Demand

Xiaomi has significantly increased its sales targets for the SU7 electric vehicle to 130,000 units by the end of 2024, up from a previous target of 120,000 and an original goal of 76,000, due to strong demand. The company has already surpassed 100,000 deliveries just eleven months after the vehicle's launch in December 2024. The SU7's success contributed to a 30.5% increase in Xiaomi's third-quarter revenue, reaching 92.5 billion yuan, with the EV segment generating 9.7 billion yuan. Despite positive sales figures, Xiaomi's automotive division remains unprofitable, reporting an adjusted loss of 1.5 billion yuan in the third quarter. Analysts expect the company to deliver 400,000 EVs by 2025, potentially making this segment a significant contributor to Xiaomi's overall revenue.