TMTPOST --  Latest data showcased Xiaomi Corporation is well on track to achieve its new electric vehicle (EV) delivery target of the year.

Credit：Xiaomi

Xiaomi‘s auto unit delivered more than 20,000 EVs in November again after the monthly delivery of its first EV model SU7for the first time topped 20,000 units in October, according to a post of the company’s account on Chinese social media platform Weibo. The achievement last month means Xiaomi Auto delivered more than 20,000 EVs for two months in a row after deliveries exceeded the 10,000-unit milestone for a fourth straight month.

“We are confident that we can meet our delivery target of over 130,000 units for the whole year, and thank you for your suppor,” Xiaomi Auto said in the post. Xiaomi CEO Lei Jun said last month the company aims to deliver 130,000 EVs for the entire year,raising the forecast for the third time since the launch of SU7 eight months ago.

Xiaomi officially launched SU7 on March 28, with starting price cheaper than its major competitor: Tesla’s affordable Model 3. CEO Lei presented that day SU7 has a layered pricing since it has three variants. The standard SU7 costs RMB215,900 (US$29,872), and the Pro and Max version are priced at RMB245,900 and RMB299,000, respectively. Lei said the SU7 is RMB30,000 cheaper than Model 3, which starts at RMB245,900 in China.

Xiaomi started presales for SU7 on the day of launch and offered a hand of freebies worth of up to RMB22,000, such as Nappa leather seats and a built-in fridge, to anyone who place the order of the Standard and the Pro version by April 30. The company disclosed at Weibo that it received more than 10,000 preorders in just four minutes since the launch, and preorders topped 50,000 within 27 minutes. These preorders come from customers who had paid a deposit of RMB5,000 that is refundable within seven days since the order is effective.

Xiaomi unveiled SU7 Ultra prototype in August. The variant can go 0-100 kilometer/hour (km/h), or 0-62 mph, in a scorching 1.97 seconds, and features a top speed of over 350  (217.48 mph), along with an acceleration from 0-100 km/h in 1.97 seconds (0-60 mph in around 1.9 seconds), and 1,548 horsepower. It generates a remarkable maximum downforce of 2145kg, enabling exceptional grip and stability during high-speed maneuvers.The all-carbon exterior design of SU7 Ultra prototype ensures lightweight construction, thus contributing to a weight reduction of 500 kilograms.

Xiaomi said in August the production version of SU7 Ultra will maintain most of the rest of its current tech, including three V8s electric motors and 800V architecture powered by CATL’s fast-charging Qilin II batteries that can recharge from 0-100% in twelve minutes.

Xiaomi announced last month the prototype of SU7 Ultra, a hypercar variant of its first EV model SU7, completed its lap speed challenge on the Nürburgring Nordschleife, achieving a time of 6'46"874 and thereby breaking the seven-year-old fastest four-door car lap record at the Nürburgring. This marks a splendid milestone for Xiaomi EV, just three years into its journey.

Xiaomi reported its EV business maintained double-digit growth of the top line for the quarter ended September.The July to September period is Xiaomi’s second quarter to report sales of its EV business since the company launched its first EV model SU7 in March and began delivery a month later.

Revenue from smart EV and other new initiative stood at RMB9.7 billion, including RMB9.5 billion from EV. That suggested EV revenue surged 53.2% from a quarter earlier. The gross margin of the segment logged 15.4%, 1.7 points up quarter-over-quarter (QoQ) and still less than Xiaomi’s overall margin of 17.2%. The segment booked an adjusted net loss of RMB1.5 billion, narrowing 16.7% QoQ. Xiaomi said it has received significant market interest in and strong demand for the Xiaomi SU7 Series. Deliveries for the third quarter totaled 39,790 vehicles, 12,483 units, or 45.7% up from deliveries for the previous quarter. The average sales price (ASP) of SU7 series was RMB238,650 per unit, gaining 4.4%, or RMB10,000, from the second quarter.