On April 23, Lei Jun, chairman of Xiaomi Group, announced on his official Weibo that Xiaomi's delivery target for the whole year will exceed 100,000 vehicles.

Lei Jun also announced the number of lock orders for Xiaomi SU7. As of April 20th, the number of lock orders for Xiaomi SU7 has exceeded 70,000. That is to say, within less than a month of its launch, the Xiaomi SU7 has already achieved about 70% of its annual delivery target. It is understood that among the 70,000 vehicles with locks, the standard version accounts for 28.57%, the Pro version accounts for 28.27%, and the Max version accounts for 43.16%, indicating that the top of the line is the most popular among car owners.

At Xiaomi's investor conference, Lei Jun also revealed that he expects Xiaomi's gross profit margin to be between 5% and 10%. He said, "Today's sales are much larger than expected, and we need to carefully calculate the specific numbers."

Due to the unexpected popularity of the Xiaomi SU7, production capacity is currently the biggest bottleneck for Xiaomi Motors. According to the previous press conference, the Xiaomi SU7 Standard Edition and Max Edition (both non founding versions) will be delivered at the end of April, and the Pro Edition will be delivered at the end of May. Now Lei Jun has stated that the delivery dates for both the Standard and Max versions have been advanced to April 18th.

Previously, there were rumors that Huawei's LUXEED S7 was "grabbing" customers from Xiaomi SU7. As long as you purchase any LUXEED S7 now and pay the final payment, you can deduct a non refundable deposit of 5,000 yuan from the car price after locking the Xiaomi SU7. It is reported that since the launch of the Xiaomi SU7, Huawei's major stores have introduced this temporary policy, which will continue until the end of May.

As the above news spread, Lei Jun posted on Weibo on April 22 that the production capacity and delivery speed of Xiaomi SU7 are rapidly increasing, and the standard version and Max have been delivered ahead of schedule. Lei Jun also generously advertised for other friends, saying, "If you are really in a hurry to buy a car, domestic new energy vehicles are all good, such as the LUXEED S7, NIO ET5, Xiaopeng P7 series, etc. You can also consider purchasing!"

Lei Jun's recent actions have made many netizens exclaim about the overall situation and have also caused a wave of goodwill.In addition to Huawei, there are also media reports today (April 23) that NIO has launched the same subsidy campaign for car owners who have already placed orders with Xiaomi. A salesperson from NIO's store stated that as long as an order is placed, NIO will also receive a subsidy of 5,000 yuan.

Multiple competitors have launched limited time discounts to "cut off" Xiaomi SU7 owners, in order to seize the window period of limited production capacity of Xiaomi SU7.

Earlier this month, Citigroup pointed out in a research report that Xiaomi's current challenges mainly include production volume, supply chain, and delivery. Macquarie also stated that Xiaomi needs to double its current production capacity by the end of this year to meet the increasing demand. Macquarie has also raised its sales forecast for Xiaomi Motors this year, from 14,000 units at the beginning to 80,000 units.

The Xiaomi car factory will be constructed in two phases, with the first phase having an annual production capacity of 150,000 units and completed in June 2023; The second phase is planned to start construction in 2024 and be completed in 2025.

Although the annual production capacity of the first phase is 150,000 vehicles, Xiaomi has not yet maintained the full production status of the first phase factory due to various factors such as component supply. According to the production plan, Xiaomi Motors will produce over 3,000 vehicles per month by March this year, and this figure will climb to 4,000-5,000 vehicles by April. From then on, the monthly production capacity will stabilize at the level of 6000 vehicles by the end of the year.

That is to say, if the current 70,000 orders are digested according to the original production plan, it will take Xiaomi factory over a year. However, since Lei Jun has already announced the "annual delivery target of over 100,000 vehicles", it indicates that Xiaomi has taken measures internally to accelerate the ramp up of production capacity, and the early delivery of the Standard and Max versions has also verified this.

In addition, there are reports that Xiaomi plans to launch more color options for the Xiaomi SU7 in the second half of this year, but the specific plan has not been finalized yet. This move may further boost the sales of Xiaomi SU7. The Xiaomi SU7 currently has 9 exterior colors for users to choose from, three of which are free, and the other six require an additional payment of 7000 RMB.

The Beijing Auto Show will be held from April 25th to May 4th, 2024 at the Shunyi Hall of the China International Exhibition Center in Beijing. Lei Jun has stated that he will provide a detailed introduction to Xiaomi's production capacity and delivery plan at the Beijing Auto Show, let's wait and see.