Xiaomi has hit a major manufacturing milestone, rolling its 500,000th vehicle off the production line just one year and seven months after its first EV entered mass production. The company marked the achievement on Weibo, calling it a new starting point for its fast-growing automotive arm.
The milestone positions Xiaomi among the quickest manufacturers in China to reach the half-million mark, a feat usually reserved for brands with far longer automotive legacies.
Rapid Climb in China’s EV Market
Xiaomi entered the EV race in 2021 and launched its first model, the SU7 sedan, in early 2024. Despite its late start, the company has moved at a pace that few newcomers manage.
From January to October this year, Xiaomi EV delivered 315,376 vehicles, nearly completing its annual target well ahead of schedule. During the third-quarter earnings call on November 18, executives said the 2025 target of 350,000 units was already within reach and expected to be met this week.
Lei Jun, Xiaomi’s founder and CEO, told employees during a celebration event that the brand now expects to deliver more than 400,000 vehicles in 2025.
A Surge in Production and Profitability
The third quarter was a breakout period for Xiaomi’s automotive division. The company delivered 108,796 EVs, a year-on-year jump of 173 per cent and a 32 per cent increase over the previous quarter.
Xiaomi’s broader “innovative businesses” segment, which includes EVs and AI, posted net income of RMB 700 million in Q3, marking its first profitable quarter. EVs accounted for nearly all of that revenue, generating RMB 28.3 billion out of the total RMB 29 billion.
With logistics underway, Xiaomi expects to hand over its 500,000th vehicle to a customer within days.
Expanding Lineup: SU7, SU7 Ultra, and YU7
Xiaomi’s product strategy has also expanded rapidly. Its debut EV, the SU7, launched in three variants: Standard, Pro, and Max, with pricing aimed squarely at the Tesla Model 3.
Deliveries for the Standard and Max trims began in April 2024, followed by the Pro in May. In February this year, Xiaomi introduced the SU7 Ultra, a high-performance version starting at RMB 529,900.
June saw the arrival of the YU7 SUV, a direct competitor to Tesla’s Model Y, offered in three variants ranging from RMB 253,500 to RMB 329,900.
This expanded lineup is fueling strong monthly delivery numbers. Last month alone, Xiaomi EV sold 48,654 units its second straight month above the 40,000 mark, closing in on the 50,000-unit milestone.
Market Challenges Remain
Despite the operational momentum, Xiaomi’s Hong Kong-listed shares have been under pressure. The stock has fallen 33 percent over the past two months, weighed down by softness in the smartphone business and broader concerns about China’s EV sector heading into a tougher first quarter of 2026.
Still, with accelerating production, rising sales, and its first taste of EV profitability, Xiaomi appears set on pushing deeper into the automotive arena — and faster than many expected.
