Xiaomi’s SU7 Achieves New Production Record, Driving Q3 Growth

Xiaomi has shattered records by producing 100,000 vehicles in just 230 days. This is nearly half the time of the previous record held by Aito.

The company’s Q3 performance is indicative of its remarkable development, as revenue increased by 30.5% to 92.5 billion yuan and net profit increased to 6.3 billion yuan. Furthermore, the financial reserves attained an all-time peak of 151.6 billion yuan.

The SU7 model from Xiaomi Auto was instrumental in this success, as the average selling price increased as demand for its premium Pro and Max variants increased.

Xiaomi Auto’s revenue increased by 9.5 billion yuan in Q3, as it delivered 39,790 vehicles. The loss per vehicle decreased to 38,000 yuan, which represents a substantial improvement from the previous quarter.

The monthly output of 20,000 vehicles exceeded expectations, as the factory’s production rate exceeded expectations. This enhanced efficacy has resulted in a reduction in costs per unit and an increase in production.

At present, Xiaomi maintains 127 electric vehicle sales centers in 38 locations throughout China. The company expects that its automobile segment will become its fastest-growing division in 2024, thereby establishing itself as a significant player in the EV market.