— Lei Jun (@leijun) April 25, 2024 Locked-in orders refer to those where buyers have opted for non-refundable deposits. have come less than one month into the launch of Xiaomi's first car in late March. Advertisement Xiaomi launched its car, which draws styling cues from Porsche, in March this year. It enters a crowded China EV market with an attention-grabbing price tag of under $30,000 for the base model, which is $4,000 cheaper than the base model of Tesla's Model 3 in China. Xiaomi targets more than 1,00,000 deliveries for the SU7 in 2024 and intends to keep its automotive business "100 percent focused" on the Chinese market for the next three years, Lei said at an investor conference on April 23. The company brought forward deliveries of the standard and Max versions of the SU7 to April 18, 12 days earlier than initially planned, according to a report in Reuters. Besides the two trims, Xiaomi previously said it plans to start deliveries of Pro models by the end of May. Advertisement "I knew Xiaomi SU7 would face intense scrutiny. As expected, after its launch, people were examining it closely for any potential issues. But I'm glad Xiaomi SU7 has been very well-received. I couldn't be prouder," Jun wrote. The company has said that it expects to lose money on the SU7. Better known for making affordable smartphones and home appliances, Xiaomi intends to invest another 11-12 billion yuan this year in new businesses including the automotive unit and the operating mobile system for its phones, he said. Published on: Apr 25, 2024 10:32 AM IST Follow Us on