Xiaomi's Electric Car Journey: From Hot Demand to Financial Challenges

 1. The SU7 Electric Sedan:

- Xiaomi, the world's largest phone maker, entered the electric vehicle (EV) market with its SU7 electric sedan in March 2024.

- Designed by former BMW designer Chris Bangle, the SU7 quickly gained popularity, amassing 120,000 orders within the first 36 hours of its launch.

- Despite the initial success, Xiaomi faced significant financial losses:

  - In its first full quarter of customer deliveries (April through June 2024), Xiaomi sold 27,207 electric cars.

  - The company reported a total loss of $252 million, translating to approximately $9,200 per vehicle.

  - Remarkably, this loss per vehicle is significantly lower than that of other players like Ford and Rivian.