Xiaomi Auto Delivers Over 30,000 Vehicles in May

[Market Update] Xiaomi Auto delivered over 30,000 vehicles in May, yet still faces pressure to meet its annual target.

Key Developments: Dual YU7 Launch to Drive Sales Growth Starting in June

Xiaomi Auto surpassed 30,000 deliveries in May, bringing its cumulative deliveries from January to May to approximately 140,000 units, accounting for 25% of its full-year target of 550,000 vehicles. The current mainstay model remains the SU7, but deliveries of the YU7 Standard Edition (priced at RMB 233,500) and the YU7 GT (starting at RMB 389,900) began in late May. Lei Jun stated that initial monthly deliveries of the GT version are around 2,400 units.

Key Metrics: Sufficient Capacity but Profitability Under Pressure

Phase III of the Beijing factory has commenced production, and together with the Wuhan factory, total annual capacity exceeds 600,000 vehicles. However, the company swung from profit to loss in Q1, primarily due to rising costs of core components. Although April deliveries reached 36,702 units, this remains below the December peak of 50,000 units last year.