Xiaomi Motors accelerates new energy vehicle layout and expects to launch second pure electric SUV in 2025

News on April 24, 2024. Recently, Xiaomi Motors has frequently made efforts in the field of new energy vehicles and actively deployed product lines. According to the latest report from 36Kr, following the successful launch of its first model Xiaomi SU7, Xiaomi Motors’ second pure electric SUV model is expected to meet consumers in the first half of 2025. This new car will be equipped with Xiaomi's independently developed electric vehicle platform and adopt the latest technological innovations, including intelligent driving, human-computer interaction and other technologies. Xiaomi Motors hopes to further consolidate its leading position in the new energy vehicle market with this model and meet the growing needs of consumers. Xiaomi Auto

According to previously circulated renderings of Xiaomi’s first SUV, this new car inherits the elegance and refinement of Xiaomi SU7 in design, and may also use the classic design of Xiaomi SU7 in the front part. However, in order to highlight its SUV characteristics, the model is expected to incorporate more exclusive elements in details, such as adding tough body lines and aerodynamic kits to enhance the vehicle's practicality and visual impact.

Xiaomi Motors’ product planning does not stop there. There is also news from within the company that the third new model is also under intensive preparation and is expected to be officially launched in 2026. It is reported that the market positioning of this new car will reach 150,000 yuan. Xiaomi has high hopes for it and has set a very high estimated production and sales target.

Xiaomi Motors also spares no effort in channel and production capacity layout. A research report from Yongxing Securities pointed out that Xiaomi Auto’s sales and service network is expanding rapidly. At present, Xiaomi Motors has established 59 sales stores and 58 service centers nationwide. It is expected that by the end of 2024, the number of sales stores will increase to 211 and the number of service centers will increase to 112. The sales network will cover 39 cities and the service network will cover 56 cities.

In terms of production, Xiaomi Motors has invested in and built a vehicle factory in the Beijing Economic and Technological Development Zone. The factory will be constructed in two phases, with a total annual production capacity of up to 300,000 vehicles. Among them, the first phase of the project was completed in June 2023, with an annual production capacity of 150,000 vehicles; the second phase of the project is planned to start in 2024 and is expected to be completed in 2025, with an annual production capacity of 150,000 vehicles.

On social media yesterday, Feng Weibing, senior vice president of Xiaomi Group, revealed the delivery target of Xiaomi Automobile SU7. He said that Xiaomi Motors plans to deliver more than 100,000 SU7 units in 2024. At the Xiaomi Investor Conference on the same day, Lei Jun also excitedly announced that as of April 20, Xiaomi SU7 orders had exceeded 70,000 units.

Lei Jun further revealed the gross profit margin forecast of Xiaomi SU7. He said he expects the gross profit margin of this model to be between 5% and 10%. "Today's sales volume is much larger than expected," Lei Jun said. "We still need to calculate the specific figures carefully." The strong development momentum of Xiaomi Motors has undoubtedly injected new vitality into the entire new energy vehicle market.

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