China’s tech giant Xiaomi announced on Sunday that it delivered “over 28,000” units in May, matching its April figures.
The brand, which opts not to specify the exact sales figures, saw the first sequential decline in April. Xiaomi launched its first EV, the SU7, in the final days of March 2024.
Deutsche Bank analyst Wang Bin last week estimated that Xiaomi would deliver 28,000 vehicles in May, noting that production at the Beijing plant was paused during the first week of the month due to China’s May Day holiday.
The company has maintained monthly sales above 25,000 units for three consecutive months and has consistently sold more than 20,000 EVs each month since October.
Co-founder and CEO Lei Jun lifted the company’s annual target by 50,000 last of March — meaning that it aims now to deliver 350,000 electric vehicles in 2025.
By the end of May, the Beijing-based brand had delivered “over” 132,800 vehicles, achieving nearly 38% of the guidance.
The company reported its first quarter earnings results last week, revealing that the revenue from its EV unit reached 18.1 billion yuan ($2.5 billion) — up from 16.3 billion ($2.25 billion) in the final quarter of 2024.
Xiaomi recently pre-launched its YU7 SUV, with its official launch and deliveries planned to begin in July. The SUV targets Tesla‘s refreshed Model Y, which was China’s best-selling EV in March and remained in the top 3 in April.
The SUV comes in three variants and is powered by CATL batteries. It will be equipped with Xiaomi‘s HyperVision, a smart driving system that can display Smart Route and navigation, among other information.
Pricing details were not disclosed during the pre-launch event. However, President Weibing Lu stated on the latest earnings call that, as of May 26, inquiries and pre-orders for the YU7 have surpassed SU7’s in the same period.
The executive also noted that the locked order volume for the SU7 Ultra reached 23,000 units. Earlier this year, the company’s president stated that Xiaomi intends to start shipping cars overseas in 2027.
