Xiaomi’s rise in the electric car market continues. Last month, the company announced that Xiaomi SU7 sales exceeded 20 thousand units, surpassing its own targets and intimidating its competitors in the electric vehicle market.
Xiaomi SU7 sales broke a record in September
Xiaomi continues its rise in the electric vehicle sector. The company announced that Xiaomi SU7 sales exceeded 20 thousand units in September, surpassing its ambitious targets. This means that sales crossed the 10,000 mark for the fifth month in a row.
According to independent reports, sales in September were between 15 and 16 thousand vehicles. Making statements on the subject, Xiaomi CEO Lei Jun stated that they set a sales target of 20 thousand SU7s for last month. Thus, the company said that it delivered more than 5 thousand vehicles on average per week.
The quarterly financial report presented by Xiaomi Auto said 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.
Xiaomi opened a new facility in June that can work double shifts 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.
Of course, it should be noted that the sales are exclusive to the Chinese market. Xiaomi, which says it will stick to China for now, is also targeting the European market.
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