Xiaomi EV Sales Surge; Shares Rise on Strong April Data

Xiaomi's EV Deliveries and Stock Performance

Xiaomi reported its electric vehicle deliveries for April surpassed 30,000 units, marking a significant month-over-month increase of approximately 50%. This strong performance immediately impacted the company's stock, which closed 6.75% higher in Hong Kong trading.

Market Demand and Production Update

The company's new SU7 model has been a major success, accumulating over 70,000 locked orders since its launch. Delivery lead times for the new SU7 have been adjusted, with the base model now extending to 8-11 weeks and the Max model requiring a 9-12 week wait. In contrast, the wait time for the existing YU7 Max model has shortened to 4-7 weeks.

Strategic Growth and Future Outlook

From January through April, Xiaomi shipped a total of 110,000 electric vehicles. This figure represents 20% of its ambitious 2026 delivery target of 550,000 units, signaling strong early progress. The company is also expanding its physical presence, operating 495 stores across 165 cities as of late April, with plans to add two more in May. Further product development is underway, with the YU7 GT model expected to launch in late May.

Summary

The surge in April deliveries and strong order book for the SU7 model underscore Xiaomi's successful entry into the competitive EV market. Investors are closely watching the company's ability to scale production to meet demand and achieve its long-term delivery targets.

FAQ

Q: How many EVs did Xiaomi deliver in April?
A: Xiaomi delivered over 30,000 electric vehicles in April, a 50% increase from March.

Q: What is the total number of locked orders for the new Xiaomi SU7?
A: The new SU7 model has accumulated over 70,000 locked orders since its launch.

Q: How did Xiaomi's stock react to the news?
A: Shares in Xiaomi closed 6.75% higher in Hong Kong following the announcement.

Source: Investing.com