Xiaomi Secures Independent EV Production License, Targets 120,000 Deliveries
The Chinese government has officially granted Xiaomi an independent electric vehicle production license, marking a significant milestone for the smartphone giant. Announced by the Ministry of Industry and Information Technology (MIIT) on July 12, this approval allows Xiaomi to assemble EVs without relying on its previous partner, state-owned automaker BAIC. Consequently, Xiaomi is now listed as an all-electric passenger car manufacturer, enabling it to scale up production at its Beijing facility, which has an annual capacity of 150,000 units. Following this regulatory green light, Xiaomi has raised its 2024 delivery target from 72,000 to 120,000 units, driven by the strong market performance of its debut model, the SU7. The SU7, priced competitively against Tesla’s Model 3, has already achieved nearly 26,000 year-to-date deliveries. Additionally, the company is accelerating its product roadmap, with an all-electric SUV scheduled for release in the first half of next year and a third model, an extended-range hybrid vehicle targeting families, planned for 2026. This development underscores Xiaomi's strategic shift towards full autonomy in its automotive manufacturing operations.
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Xiaomi Secures Independent EV Production License, Targets 120,000 Deliveries
The Chinese government has officially granted Xiaomi an independent electric vehicle production license, marking a significant milestone for the smartphone giant. Announced by the Ministry of Industry and Information Technology (MIIT) on July 12, this approval allows Xiaomi to assemble EVs without relying on its previous partner, state-owned automaker BAIC. Consequently, Xiaomi is now listed as an all-electric passenger car manufacturer, enabling it to scale up production at its Beijing facility, which has an annual capacity of 150,000 units. Following this regulatory green light, Xiaomi has raised its 2024 delivery target from 72,000 to 120,000 units, driven by the strong market performance of its debut model, the SU7. The SU7, priced competitively against Tesla’s Model 3, has already achieved nearly 26,000 year-to-date deliveries. Additionally, the company is accelerating its product roadmap, with an all-electric SUV scheduled for release in the first half of next year and a third model, an extended-range hybrid vehicle targeting families, planned for 2026. This development underscores Xiaomi's strategic shift towards full autonomy in its automotive manufacturing operations.
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