On April 23rd, Xiaomi Group held an investor conference where Lei Jun shared insights regarding the Xiaomi SU7.
Firstly, the official reservation numbers were disclosed, with over 70,000 reservations made as of April 20th. The target for deliveries this year is set at 100,000 units.
For a debut vehicle from a startup automotive company, this is undeniably a remarkable success. It can be said that Xiaomi's foray into the automotive industry has proven to be fruitful.
During the conference, Lei Jun also addressed investors' questions: Why is the Xiaomi SU7 selling so well? What is the most important reason?
Lei Jun stated: "I believe the initial success of the Xiaomi SU7 launch demonstrates that pure electric sedans constitute a significant market. In the past, this market was small simply because no one had successfully tapped into it. In the traditional automotive industry, the demand for SUVs and sedans is at a 1:1 ratio. I believe that in the pure electric field, sedans are undoubtedly the mainstream demand."
Lei Jun stated that in the past, pure electric cars were considered a niche market. Tesla's Model 3 was the champion in this field, selling an average of 12,000 units per month in China. If a pure electric car could reach 3,000 units per month, it would be among the top five, but everyone still saw it as a niche market.
Xiaomi's decision to enter the pure electric car market was driven by various reasons, but almost everyone was pessimistic about it. Lei Jun personally set a goal of selling 10,000 units per month.
He revealed that Xiaomi's original target was to deliver 72,000 units annually. Many investors initially expected only around 3,000 units, which was quite normal.
