During a livestream on Tuesday, Lei Jun confirmed that the final first-generation SU7 has rolled off the assembly line, concluding a debut run that saw nearly 370,000 units sold. Since its launch in March 2024, the SU7 gained rapid market traction as a lower-cost alternative to premium European sports cars, effectively establishing the smartphone maker as a serious contender in China’s competitive EV landscape.

The Next-Generation Roadmap

The company plans to begin sales of the updated SU7 in April, featuring hardware upgrades aimed at enhancing safety and autonomous capabilities. The new model will integrate lidar sensors to support more advanced driver-assistance systems and include additional rear side airbags. Analysts remain optimistic about the company's momentum:

• Daiwa anticipates a strong order backlog for the successor model based on current brand loyalty.
• Bernstein highlights significant upside potential from the upcoming product cycle and technological refinements.
• Global expansion is projected to begin in 2027 as Xiaomi targets international exports to scale its automotive business.

The transition comes as Xiaomi seeks to solidify its position among China’s top-tier EV manufacturers. By maintaining a starting price point near $30,000 for its initial model, the company successfully bridged the gap between consumer electronics and automotive hardware, a feat that has eluded many of its global tech peers. The stock recently held a 5.0% gain in afternoon trading as investors reacted to the clear production timeline.