Xiaomi CEO Lei Jun recently celebrated a significant milestone in the company’s electric vehicle (EV) production by posting a photo of himself sleeping on the factory floor. This image, reminiscent of a famous moment from Tesla CEO Elon Musk, marks a key achievement: Xiaomi’s SU7 electric car reached 100,000 units produced.
100,000 SU7 Electric Cars Produced in Just 230 Days
On X (formerly Twitter), Lei Jun shared a photo of himself resting on a mattress in the factory, eyes closed and surrounded by the work environment. His caption read:
“Good morning. Woke up to the news that Xiaomi SU7 reached the 100,000 mark. From the time we launched, it took us only 230 days to reach this milestone. For a new company entering the electric vehicle industry, this is a speed we are really proud of.”
This achievement highlights Xiaomi’s impressive speed in entering the competitive EV market. The rapid production milestone demonstrates the company’s ambition to make a mark in the electric vehicle space.
A Nod to Elon Musk’s Iconic Factory Moments
Lei Jun’s factory photo instantly reminded many of Elon Musk’s famous 2018 confession about the intense stress of managing Tesla’s production line. On CBS This Morning, Musk revealed that the pressure of ramping up production for the Tesla Model 3 left him no time to go home, forcing him to sleep on the factory floor.
Musk later reiterated his commitment to being present during the toughest times at Tesla, saying, “I want my situation to be worse than anyone else in the company. Whenever they feel pain, I want my situation to be worse.”
This same ethos of relentless dedication appears to have inspired Lei Jun as he celebrates Xiaomi’s entry into the electric vehicle industry.
Xiaomi’s Rapid Growth in the Electric Vehicle Market
Xiaomi, a company best known for its smartphones, has made significant strides in the electric vehicle market. The SU7, or Speed Ultra 7, is Xiaomi’s debut electric car, and the company has already launched multiple versions: SU7, SU7 Pro, SU7 Max, and SU7 Ultra. The SU7 Ultra, the most powerful of the models, boasts engine performance comparable to some of the most renowned luxury supercars.
Xiaomi’s success in EVs comes at a time when Chinese automakers, including BYD, GAC Aion, and Changan, are growing rapidly and gaining market share. This new wave of competition is posing a serious challenge to Tesla’s dominance in the global electric vehicle industry.
Financial Struggles and Challenges for Xiaomi’s EV Division
Despite the impressive production milestones, Xiaomi’s electric vehicle division has faced financial difficulties. According to the company’s second-quarter financial report for 2024, the EV division reported a loss of $252 million. Estimates indicate that Xiaomi is losing about $9,200 per SU7 sold, reflecting the high costs associated with entering the competitive electric vehicle market.
Despite these challenges, Xiaomi’s ambition in the electric vehicle market is clear. The company is determined to scale up and eventually achieve profitability, despite the financial obstacles it currently faces.
Xiaomi’s rapid production of the SU7 electric vehicle and Lei Jun’s photo sleeping on the factory floor showcases the company’s commitment to success in the competitive EV market. With companies like Tesla and emerging Chinese electric vehicle manufacturers setting high standards, Xiaomi’s entry into the market is sure to have significant implications. As Xiaomi navigates financial hurdles, the future of the company’s electric vehicle ambitions will be closely watched by industry observers.
