Xiaomi’s successful SU7 launch puts smartphone maker among China’s top 10 EV upstarts
- Xiaomi sold 7,058 SU7s in April, its first full monthly sales since the model was launched in late March, making it China’s eighth-largest EV upstart
- Some analysts are bullish on Xiaomi’s prospects, expecting the company to sell 240,000 units in 2025 and 348,000 units in 2026
Xiaomi’s strong entry into China’s crowded EV market is set to further upend the world’s largest car market, where companies have been locked in a fierce price war amid weakening demand. Xiaomi is already a household name in China for its popular smartphones and home appliances.
It joins other upstarts like Nio and Xpeng as new carmakers focused on EV production. The category excludes legacy brands like Volkswagen and established EV makers such as Tesla, BYD and Geely.
Xiaomi sold 7,058 SU7s in April, its first full monthly sales since the model was launched in late March, and it is targeting more than 100,000 deliveries this year, which would correspond to monthly average sales of 11,618 units for the remainder of the year.
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Cheap EV alternative to Tesla and BYD takes off in small-town China
It replaced the Avatr EV brand from state-owned Chongqing Changan Automobile as the country’s eighth-biggest EV upstart, according to Reuters’ analysis of monthly sales data from ByteDance’s car information platform Dongchedi.
China’s EV market has been crowded by an increasing number of upstarts that include pure EV manufacturers such as Nio and Xpeng as well as EV sub-brands from traditional carmakers including GAC’s Aion and Geely’s Zeekr.
