Strong Growth in Deliveries#
Xiaomi has reported that its electric vehicle (EV) deliveries in April exceeded 30,000 units, reflecting a robust month-over-month growth of about 50%. This impressive performance has positively impacted the company's stock, which closed 6.75% higher in Hong Kong.
Lead Times for Models#
The lead times for Xiaomi's EV models remain varied. The YU7 base model continues to have a lead time of 7 to 10 weeks, while the Max model's wait time has decreased to 4 to 7 weeks. For the newly launched SU7, the base model now has a lead time of 8 to 11 weeks, and the Max model requires 9 to 12 weeks.
Orders and Delivery Targets#
Since its launch, the SU7 has garnered over 70,000 locked orders. From January to April, Xiaomi has shipped a total of 110,000 electric vehicles, which accounts for 20% of its ambitious delivery target of 550,000 units for 2026.
Expansion Plans#
As of the end of April, Xiaomi operates 495 stores across 165 cities and plans to open 2 additional stores in May. The company is also set to introduce its YU7 GT model later this month.