Xiaomi Produces 100,000 SU7 Electric Vehicles

Xiaomi has achieved a significant milestone by producing 100,000 units of its first electric vehicle, the SU7, in just 230 days since its launch in March 2024. CEO Lei Jun celebrated this achievement by posting a photo of himself sleeping on the factory floor, reminiscent of Elon Musk's early days at Tesla. The SU7, priced competitively starting at approximately $30,000, has received positive feedback from industry leaders, including Ford's CEO Jim Farley. Despite this success, Xiaomi's EV division reported a loss of $252 million in the second quarter due to high production costs. Lei Jun's hands-on approach illustrates Xiaomi's commitment to becoming a serious contender in the global electric vehicle market. The company aims to improve its financial performance by scaling operations to reduce costs.