Tech giant Xiaomi’s automotive division is taking the electric vehicle (EV) market by storm. The company announced that it delivered over 40,000 vehicles in October, marking the second consecutive month of this milestone.
A Direct Competitor to Tesla: A Multi-Vehicle Strategy
While no specific figures were shared in this Weibo announcement, a look at the previous month reveals the scale of the achievement. Xiaomi delivered a staggering 41,948 vehicles in September, breaking its own record for the third consecutive month. These figures represent the giant leaps, not the small steps, expected from an EV startup.
The growth rates achieved by Xiaomi’s EV are causing astonishment in the industry. September deliveries represent a 209.37 percent increase compared to deliveries in the same month of the previous year (13,559 vehicles). This figure also represents a 15.25 percent increase compared to just one month earlier, when 36,396 EVs were sold in August.
Xiaomi adopted an aggressive multi-vehicle strategy for its 2024 market entry. The main model launched was the Xiaomi SU7 electric sedan, officially unveiled on March 28, 2024. The company made it clear that with this vehicle, it aimed to directly compete with the Tesla Model 3, one of the most popular EVs globally.
Interestingly, Xiaomi launched the Xiaomi SU7 Ultra, a high-performance version of the sedan, on February 27, 2024, before the standard model. This unusual move demonstrates that Xiaomi is setting its own rules. Just four months later, on June 26, the company’s first electric SUV, the YU7, was unveiled. This model, as expected, is targeting the Tesla Model Y.
Unfortunately, a dark cloud hangs over this rapid success story. Last month, a serious accident involving a Xiaomi SU7 sparked serious public concerns about vehicle safety. The rapid growth of a new car company raises questions among experts and consumers about whether safety and testing standards are keeping pace with production speed. Despite this significant challenge, however, Xiaomi remains focused on the future. According to a report by local media outlet 36Kr dated October 28th, Xiaomi EV has already established a new department. This new team’s sole mission is to research and explore the “technological foundation of next-generation products.” This demonstrates the company’s commitment to investing in long-term innovations, looking beyond current models.
