Today at the Xiaomi Investor Conference, Lei Jun announced that as of April 20th, pre-orders for the Xiaomi SU7 have surpassed 70,000 vehicles, with the annual delivery target now set at over 100,000 units. When discussing the gross profit margin for the Xiaomi SU7, Lei Jun expressed his appreciation for the support from suppliers and estimated the margin to fall between 5-10%. He went on to say, “Xiaomi‘s automotive ambition extends beyond profitability; our aim is to rank among the top five global car manufacturers in the next 15-20 years, solidifying our position as leaders in cutting-edge technology.”
According to recent reports from local media, Xiaomi‘s second upcoming vehicle will be an all-electric SUV, slated for release in the first half of 2025, maintaining the design standards set by its predecessor. The initial plan for the third vehicle places it in the 150,000 yuan price range, with a planned launch in 2026.
Xiaomi has laid out a clear product roadmap, intending to introduce three new vehicles over a three-year period. The strategy involves setting the brand tone with high-end sedans and SUVs initially, followed by the introduction of more affordable models to drive sales and capture a wider market share. The first year focused on leveraging user insights and striking design to establish brand influence swiftly. In the second year, the company anticipates stiff competition in the mainstream market, necessitating a robust reputation built on the foundation of SUV products. The third year will see the introduction of budget-friendly models, leveraging design and technological advancements to rapidly expand Xiaomi‘s automotive user base.
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