Tech giant Xiaomi announced on Thursday that its 500,000th vehicle has rolled off the production line in Beijing, just a year and seven months after the launch of its EV unit.
The milestone was achieved about a month after the company’s co-founder and CEO Lei Jun said that deliveries had reached 400,000 cumulative units.
The chief executive posted on Weibo, saying that “today is truly exciting” for the brand.
“For industry giants, 500,000 units may seem modest, but for Xiaomi, it carries extraordinary significance,” the post read.
According to Lei Jun, the milestone shows that the company’s capabilities in R&D, “manufacturing, sales, delivery and service have been fully validated.”
Staggering Demand
Xiaomi has faced unprecedented demand for both its current models — the SU7 sedan and YU7 SUV.
The YU7, launched in July, shattered Chinese automotive records by securing 200,000 pre-orders within three minutes. Within 18 hours, locked-in orders reached 240,000 units.
Delivery wait times for both models have reached up to 52 weeks as the EV maker ramps up production.
Xiaomi is expanding its EV plant in Beijing and, according to a recent report by local outlet Lanjinger, the company has been able to reduce waiting times by up to two months.
Late last month, the brand further announced that it will cover any increase in purchase tax after year-end through final payment deductions, cushioning buyers against China’s planned reinstatement of the 10% purchase tax rate on electric vehicles.
The aid will only be available for customers who place orders by November 30.
Thanking customers for their trust, the CEO said the company extends their “gratitude to our supplier partners,” as “scaling up production requires the coordinated effort of the entire supply chain.”
Lei Jun also stated that “Xiaomi has gained broad consumer recognition and has entered a new stage of scaled growth.”
2025 Delivery Goal
At the milestone ceremony, Lei Jun revealed that the company expects to deliver more than 400,000 vehicles in 2025.
Earlier this year, the CEO had raised Xiaomi’s annual delivery target from 300,000 to 350,000 vehicles.
Considering deliveries from January 1 to October 31, the EV maker has delivered approximately 297,000 vehicles — meaning it completed roughly 85.7% of the guidance.
Xiaomi delivered “over” 40,000 electric vehicles in both September and October.
Upon reporting its third quarter financial results, the company revealed that a total of 108,796 vehicles were delivered during the third quarter.
Xiaomi‘s third quarter total revenue rose 22.3% year over year to 113.1 billion yuan, however it was below the 116.5 billion yuan average estimates compiled by LSEG.
The company, primarily known for its consumer electronics and smart home products, said revenue growth was supported mostly by its EV and AI units.
