As of April 24, locked-in orders for the Xiaomi SU7 reached 75,723 units, with 5,781 units delivered 28 days after the model's launch.
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As of April 20th, SU7's firm order volume has exceeded 70,000 units.
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Xiaomi's third model will be in the RMB 150,000 class, and the company has set a high estimated production and sales target for the affordable model, according to local media.
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For customers who have already ordered Xiaomi SU7, Nio's offline stores are offering a subsidy of RMB 5,000 to entice them to switch to Nio models, according to local media.
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As of April 20, locked-in orders for the Xiaomi SU7 have exceeded 70,000 units, Xiaomi founder Lei Jun said at an investor conference.
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Customers who currently order the Xiaomi SU7 will have to wait for about 8 months for delivery.
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SU7 orders are three to five times higher than previously expected, and Xiaomi EV is in full production to meet delivery demand, the company's CEO said.
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Citi analysts in a research note earlier this month expected the SU7 to deliver around 55,000 to 70,000 units for the full year.
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Xiaomi EV's impact on EV startup shares may be relatively minor at this point, as more meaningful volume upside still comes from internal combustion engine vehicle replacement, Morgan Stanley said.
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Xiaomi doesn't have a demand problem.
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