Xiaomi continues to increase deliveries of its first electric car. Accordingly, the company exceeded 10 thousand deliveries for the third month in a row. This marks the third month in which deliveries reached an important point. The company also gave a date for 100 thousand sales.

Xiaomi SU7 sales exceeded 10 thousand in August

Deliveries of the Xiaomi SU7 electric SUV exceeded 10,000 units in August. Although exact figures have not been announced, deliveries of the SU7 have been exceeding 10,000 for several months. The Chinese company is targeting a total of 100,000 SU7 deliveries by November and 120,000 by the end of the year.

The quarterly financial report presented by Xiaomi Auto said that SU7 sales from its energy division generated $902 million in revenue in the April-June period. The gross profit margin for innovative businesses, including electric vehicles, was around 15 percent.

However, it should be noted that the company has been making losses for a while. Xiaomi’s automobile division announced an operating loss of 252 million dollars. With a price of about 30 thousand dollars, each vehicle delivered resulted in a loss of 9 thousand 200 dollars to Xiaomi.

Xiaomi opened a new double-shift facility in June to accommodate increased electric vehicle production and deliveries. The company also continues to expand its store network, adding 8 new locations in August, bringing the total to 111 stores. Another 16 stores are scheduled to open in September.

Of course, it should be noted that sales are exclusive to the Chinese market. Xiaomi, which says it will stick to China for now, is also targeting the European market.