Xiaomi SU7 Surpasses Ford and GM in 2024 EV Sales

Xiaomi's SU7 EV sold nearly 137,000 units in 2024, outperforming Ford and GM. Discover how this tech giant is reshaping the global electric vehicle market.

Xiaomi has made a powerful debut in the automotive industry with its first electric vehicle, the SU7. In 2024 alone, the tech giant-turned-EV-maker sold nearly 137,000 units, significantly surpassing its original targets and closing the year with 136,854 vehicles delivered.

What makes this achievement even more remarkable is how Xiaomi outpaced American heavyweights Ford and General Motors. In China, Ford managed to sell only 999 Mustang Mach-Es, while GM sold around 69,000 EVs across its Buick, Cadillac, and Chevrolet brands. Even when counting GM's joint venture sales, Xiaomi's performance under its own name remains unrivaled in this comparison.

The SU7’s success was meteoric. Xiaomi has now surpassed 200,000 deliveries, with the first 100,000 sold in just 229 days. The next 100,000 were delivered in almost half that time—just 119 days—a pace that rivals even Tesla's best-selling models.

One of the SU7's biggest selling points is its pricing. Starting at under $30,000, it offers a compelling package of tech, design, and performance. Higher trims like the Pro and Max versions deliver extended range and added features. Meanwhile, anticipation is growing for the SU7 Ultra—a limited-production performance variant with over 1,500 horsepower and tri-motor setup. Xiaomi reportedly received thousands of preorders within minutes of opening reservations, with official deliveries set to begin in 2025.

Looking ahead, Xiaomi is doubling down on its automotive ambitions. The company plans to open a second production facility in Beijing by mid-2025 and launch its next EV, the YU7 crossover, boasting up to 770 kilometers of range. Xiaomi has raised its sales forecast for 2025 to 350,000 units, reflecting growing demand and production capacity.

Industry analysts have taken notice. Xiaomi’s market capitalization surged following its EV success, and the company is aggressively hiring top talent from legacy automakers to fuel its expansion. With international market entry planned by 2027, Xiaomi could pose a serious challenge to established automotive leaders.

The SU7’s runaway success highlights a broader shift in the industry: the lines between tech companies and automakers are blurring. Xiaomi didn’t just join the race—it’s rapidly becoming a front-runner.

Source: insideevs.com