China’s Xiaomi has reported a 30.5% growth in third-quarter revenue for its EV business, with the company also bumping up its yearly delivery target for the SU7 series EVs to 130,000 units.
Back in May, Xiaomi – the world’s third-largest smartphone maker – had said that it planned to build 100,000 EVs by the end of the year, with the company well on its way to achieving that goal. CEO Lei Jun said on his social media account that the company was bumping up its previous target of 120,000 of its first EV as “demand surges,” reports Reuters.
Last December, Xiaomi debuted its first vehicle, the SU7, which officially launched in March, offering three versions – Standard, Pro, and Max, with the Standard starting at $30,761 – strategically about $4,000 cheaper than the price of Tesla’s Model 3 in China. A souped-up hypercar version, the Ultra, has also since …