Xiaomi shares jump 6.75% as new SU7 orders top 70,000 in 6 weeks

Xiaomi will remove some optional configurations from the new SU7 starting May 6 to optimize production and delivery efficiency.Xiaomi's Hong Kong-listed shares closed up 6.75% on Monday at HK$30.98 apiece, outperforming the broader market.(A next-generation Xiaomi SU7 on display at the Beijing Auto Show in April 2026. Image credit: CnEVPost)Xiaomi (HKG: 1810) is seeing strong orders for its updated SU7 electric sedan as its vehicle deliveries rebounded notably in April, sending its shares higher.Locked-in orders for the new SU7 have surpassed 70,000 units, its electric vehicle (EV) unit Xiaomi EV announced on Weibo on Saturday.The Beijing-based tech giant officially launched the model on March 19, meaning the order tally reached this milestone in about six weeks. Join us on Telegram or Google News The new SU7's launch-period benefits will officially expire at midnight on May 5, and orders that complete the deposit payment before then will be eligible for the exclusive launch perks, Xiaomi EV said, in an apparent push to get prospective buyers to place orders sooner.The launch-period benefits for the new SU7 Standard and Pro versions are valued at 44,000 yuan ($6,440), including features such as a front passenger zero-gravity seat and a powered frunk.The Max version's launch-period benefits are valued at 69,000 yuan, including premium configurations such as an ultra-quiet cabin and a carbon fiber package.Starting May 6, the value of purchase benefits across all variants of the new SU7 will be lower than during the launch period.Xiaomi also said that it will adjust the new SU7's configurations on May 6, with some optional features being removed, in a move to further optimize production and delivery efficiency.For this configuration adjustment, Xiaomi pledged that for all delivered vehicles and those already locked in with selected configurations, the supply of after-sales maintenance parts will not be affected, even if the chosen configuration is discontinued.On April 24, the first day of the 2026 Beijing Auto Show, Xiaomi said locked-in orders for the new SU7 stood at 60,000 units, with cumulative deliveries of 26,000 units.The company's overall vehicle deliveries in April exceeded 30,000 units, marking a notable increase from 21,440 units in March.Xiaomi EV, as usual, did not disclose a specific figure for its April deliveries, and the exact number is expected to be available later this month in the China Passenger Car Association (CPCA) report.Xiaomi's Hong Kong-listed shares closed up 6.75% on Monday at HK$30.98 apiece, outperforming the broader market. Hong Kong's Hang Seng Index closed 1.24% higher.The new SU7 was officially launched on March 19, with the Standard version starting at 219,900 yuan, while the Pro and Max versions are priced at 249,900 yuan and 303,900 yuan, respectively.Xiaomi has set its full-year vehicle delivery target for 2026 at 550,000 units, representing growth of about 34% from the roughly 410,000 units delivered in 2025.The company also plans to officially launch the highly anticipated high-performance all-electric SUV, the YU7 GT, in late May, further expanding its product lineup. Xiaomi brings in Tesla veterans to strengthen retail and manufacturing operations Former Tesla China general manager Kong Yanshuang has joined Xiaomi EV, while another veteran with Giga Shanghai management experience is also set to join. ($1 = 6.8303 yuan)