Islamabad, Nov 20: Xiaomi’s SU7 Breaks Production Record, Boosting Q3 Growth and Setting New Milestones
Xiaomi has set a new record by producing 100,000 cars in just 230 days, nearly halving the previous record held by Aito.
The company’s third-quarter results reflect significant growth, with revenue rising 30.5% to 92.5 billion yuan, and net profit increasing to 6.3 billion yuan. Cash reserves also reached a record high of 151.6 billion yuan.
The success is largely attributed to Xiaomi Auto’s SU7 model. As more customers opted for its Pro and Max versions, the average selling price of the SU7 grew.
In Q3, Xiaomi Auto delivered 39,790 cars, generating 9.5 billion yuan in revenue. The loss per car reduced to 38,000 yuan, signaling improved efficiency over the previous quarter.
The factory’s production rate has exceeded expectations, reaching 20,000 cars per month, which has contributed to improved efficiency and lower production costs.
With 127 EV sales centers across 38 Chinese cities, Xiaomi expects its automobile division to experience the fastest growth among all its sectors in 2024.
