Xiaomi Rolls Out 500,000th EV, Eyes 400,000 Deliveries Before Year-End

Xiaomi just rolled out its 500,000th electric car, less than 20 months after launching its first model, the SU7, in March 2024. That makes it one of the fastest EV makers in the world to hit this milestone.

Founder and CEO Lei Jun said the milestone proves Xiaomi’s capabilities in everything from R&D to sales and delivery. The company isn’t slowing down as it has already delivered 315,376 vehicles this year and expects to surpass 400,000 by the end of 2025.

The SU7 sedan and the YU7 SUV have been flying off the line, with the third quarter alone seeing 108,796 vehicles delivered marking a 173% jump from last year. 

"Safety and quality remain the top priority, even as production ramps up, and Xiaomi plans to keep integrating AI and smart manufacturing to speed things up," Lei Jun said.

The EV division also turned profitable for the first time, making $98 million in Q3 from revenue of $3.98 billion. It’s also helping the supply chain, supporting over 300 auto parts companies.

Even with all the good news, Xiaomi shares slipped slightly, showing that investors are still cautious about competition in China’s crowded EV market.