Xiaomi CEO Lei Jun Celebrates 100,000th EV Milestone, Drawing Inspiration from Elon Musk

Xiaomi CEO Lei Jun pays homage to Elon Musk by marking the 100,000th EV milestone. Xiaomi achieves the milestone in just 230 days, showcasing rapid progress in the automotive industry. Lei Jun's gesture reflects Xiaomi's confidence in expanding its EV business and competing with established Chinese electric carmakers.

Credit: Lei Jun

Lei Jun posted a photo on his personal Weibo account, emulating Musk's early days at Tesla by capturing himself sleeping on the factory floor.

In his Weibo post at 7:57 am, Lei Jun highlighted Xiaomi's achievement, reaching the 100,000 EV milestone in just 230 days. He praised the company's remarkable speed as a newcomer in the automotive industry, drawing parallels to Elon Musk's approach during Tesla's early stages.

Lei Jun's social media homage to Musk referenced the Tesla CEO's dedication, including sleeping on the factory floor to oversee the production of the Model 3 EV back in 2018. This gesture symbolises Lei Jun's admiration for Musk's hands-on involvement in Tesla's operations.

The post by Lei Jun, often dubbed "China's Steve Jobs," underscores Xiaomi's confidence in expanding its EV business. Xiaomi's SU7 sedan achieved the 100,000-unit production milestone ahead of other prominent Chinese electric car manufacturers, showcasing the company's rapid progress in the EV sector.

Credit: Lei Jun

While Li Auto took 1.9 years and Nio and Xpeng approximately 2.8 years each to reach the 100,000 EV production mark, Xiaomi's swift growth in the EV market has been evident since the commencement of SU7 deliveries in late March. This success has translated into a significant increase in Xiaomi's Hong Kong-listed shares, rising by nearly 90% this year.

Lei Jun's tribute to Elon Musk and Xiaomi's milestone in EV production reflect the company's commitment to innovation and growth in the electric vehicle industry. With the SU7 sedan leading the way, Xiaomi is making significant strides in the competitive EV market, positioning itself as a key player in the industry.

Xiaomi's EV sales have been on an upward trajectory, with over 20,000 deliveries in October alone. The company consistently achieved monthly deliveries exceeding 10,000 units from June to September, aiming to complete the 100,000th SU7 delivery by the end of the month. However, Xiaomi faces stiff competition in China's EV market, dominated by Tesla and major local players like BYD.

In October, BYD led the market with over 470,000 EVs sold domestically, while Li Auto and Xpeng delivered more than 51,000 and 23,000 electric cars, respectively. Tesla also maintained a strong presence, recording sales of over 40,000 EVs in the same period.

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• Xiaomi CEO Lei Jun pays homage to Elon Musk by marking the 100,000th EV milestone

• Xiaomi achieves the milestone in just 230 days, showcasing rapid progress in the automotive industry

• Lei Jun's gesture reflects Xiaomi's confidence in expanding its EV business and competing with established Chinese electric carmakers

Source: SCMP