Just three years after announcing its entry into the automotive ring, Xiaomi EV is celebrating a massive milestone: 500,000 cumulative deliveries. Reaching the half-million vehicle on November 20 is a powerful statement, especially since the company was considered a latecomer to the complex, capital-intensive world of EVs.
The company’s delivery targets for 2025 were smashed with impressive speed. At the start of the year, Xiaomi EV set an ambitious target of 300,000 deliveries. That target was revised upward in March to 350,000 units, only to be achieved a full month ahead of the deadline.
In fact, the company is now confident enough to state that it expects Total deliveries for this year to exceed 400,000 vehicles. November deliveries again sailed past the 40,000-unit mark, and it seems the latecomer is making up for lost time – and then some.
This spectacular climb looks even more impressive when considering the timeline. Xiaomi formally announced its intention to manufacture vehicles on March 30, 2021. The speed from an idea to production has been breathtaking – first model, the sleek SU7 electric sedan, launched on March 28, 2024, with customer deliveries kicking off almost immediately on April 3, 2024.
The swift ramp-up relies on a growing and targeted lineup designed to challenge established players. The SU7 sedan is positioned directly against the popular tesla Model 3. Recognizing the demand for variety and performance, Xiaomi EV expanded the lineup with the launch of the high-performance SU7 Ultra sedan on February 27 of this year.
Not resting on its laurels, the company entered the lucrative SUV segment with the launch of the YU7 on June 26, an obvious competitor to the segment-defining tesla Model Y. The strategy of offering comparable electric cars to market leaders, but with an aggressive pricing and technology edge, is clearly paying dividends for the brand.
The high volume of deliveries has created positive fallout for the company’s bottom line. In the third quarter, Xiaomi reported that its innovative business segment – a division that includes both EVs and Artificial Intelligence initiatives – achieved its very first quarterly profit. This financial success is a clear indicator that the high investment in the automotive sector is starting to pay off.
As the year draws to a close, a ticking clock adds urgency to Xiaomi EV’s delivery efforts. China‘s new energy vehicle (NEV) purchase tax incentives are set to be scaled back starting next year. To ensure customers can take advantage of the current incentives, the company is expediting its deliveries.
Yesterday, Xiaomi EV announced a batch of vehicles specifically for quick delivery, including brand-new stock, official display models, and nearly new vehicles. Customers who have already placed firm orders but are still waiting for their car could begin selecting these faster-delivery vehicles immediately. New customers hoping to secure an EV before the tax deadline will have their chance to select from this stock starting on December 3.
The rapid rise of Xiaomi EV from latecomer to half-million-delivery benchmark sets a new standard for how quickly an established tech company can disrupt the global market for electric cars. Just for a little bit of perspective – it took tesla over 15 years (July 1, 2003, to Q4 2018) to achieve the same number of deliveries. Who’s the disruptor here?
