People look at Xiaomi's first electric vehicle SU7 which is displayed at a showroom of a newly opened Xiaomi store in Beijing, China, March 25, 2024.BEIJING — Chinese smartphone maker Xiaomi on Wednesday said it has received more than 100,000 orders for its first car — a sporty electric vehicle called the SU7 — as it began deliveries.
The first deliveries come from a limited batch of 5,000 cars that Xiaomi had already produced — called the Founder's Edition, equipped with additional accessories for early buyers. Xiaomi's shares surged as much as 16 per cent on Tuesday as the SU7 drew strong interest, though a brokerage forecast the firm would lose nearly US$10,000 per car this year. Its shares traded more than three per cent lower Wednesday morning, against a 1.1 per cent fall in the broader Hang Seng Index.