Xiaomi has gone from building consumer electronics to electric cars. It is apparently going so well that the company is adjusting again and expects to build 130,000 cars this year.
Xiaomi, which is mostly known for electronics such as phones and so-called smart watches, has for the third time increased its expectations for the sale of the SU7 electric car in 2024.
The new estimate is 130,000 cars sold before the end of the year. This upward adjustment is due to the high demand for SU7, which has necessitated increased production at Xiaomi's factories.
Reuters writes that.
The SU7 was launched in China at the end of 2023 and the first cars were delivered to customers in the spring of 2024. After the launch, there was a lot of media coverage of accidents with the SU7, mainly involving influencers.
Among other things, it was described how the SU7 both has problems with braking and how it steers miserably. Furthermore, brand new cars cannot be repaired. Read more about it here .
READ ALSO: 10 percent of drivers will never own an electric car
Despite this, the SU7 has proven popular. Back in April, the company itself said that 70,000 drivers had pre-ordered the car.
Xiaomi CEO Lei Jun has stated that sales have exceeded the company's expectations.
To meet the demand, Xiaomi has increased the production capacity by introducing more shifts in the factories. Analysts from Huatai Securities predict that Xiaomi will sell over 400,000 cars next year.
At the same time as the increased production of the SU7, Xiaomi has reported an increase in revenue of over 30 percent. It's worth noting that the SU7 is only available in China so far.
An interesting detail is that Ford CEO Jim Farley has stated that he drives an SU7 on a daily basis. Just that statement, however, has caused several critics to call the director something as violent as a traitor.
The Chinese are generally very fast. Despite customs walls from the EU, and a USA that wants to ban Chinese electric cars in 2028, a brand like BYD has hired 200,000 new people in just 3 months.
Back at Xiaomi, however, they have already received severe criticism for the performance version of the SU7. Many believe that the Chinese messed up the balance when the car set the lap record at the Nürburgring.
The car that set the lap time has very little to do with a street car. Still, the Chinese said they had beaten the Porsche Taycan's lap time.
Read more exciting news from and about the world of cars right here!
