Xiaomi is reportedly planning to officially launch the SU7 before the end of March

Xiaomi EV, the automaker of Chinese smartphone giant Xiaomi (HKG: 1810, OTCMKTS: XIACY), will hold a launch event later this month to officially unveil its first electric vehicle (EV) model, the SU7. That’s what local media outlet Lanzinger reported. This was stated today, citing sources involved.

Xiaomi EV deliveries will begin soon after the model launch, the report said.

Xiaomi announced its entry into car manufacturing on March 30, 2021, and debuted the SU7 on December 28, 2023. Pricing for the model has not yet been announced, and an official release date has not yet been set.

Xiaomi Group President Lu Weibing said the official launch of the Xiaomi SU7 will take place “soon” and hinted that domestic shipments could begin as early as the second quarter, according to report.

On February 27th, a Zeekr executive said in a media interview after the launch of the company’s latest model Zeekr 001 that he had heard that Xiaomi’s first EV model would be officially launched on March 28th.

Xiaomi then responded as follows: The exact release date of Xiaomi SU7 will be announced through official channels.

According to Lanjinger’s report today, after the first 2S (Sales & Service) branch started renovation, Xiaomi’s first directly-operated car dealership in Beijing has also started renovation.

Lanzinger, citing people familiar with the matter, said the start of renovations at company-operated stores is an important signal that pricing and delivery will be announced soon.

Unlike the direct sales model of major Chinese new car manufacturers, Xiaomi EV sales are available at both directly managed stores and so-called 2S certified stores.

Xiaomi Group signed memoranda of understanding with the first 14 sales and service partners at its headquarters in Beijing on December 29, Lu said on Weibo on January 2.

Xiaomi EV’s new retail will take direct sales as its core and leverage high-quality external forces to achieve ultimate business efficiency and user experience, Lu said.

On February 29, Finance and Economics reported that construction of an official Xiaomi EV 2S store has begun in Beijing, and construction is expected to take more than a month.

According to Finance and Economics, Xiaomi EV plans to open 60 to 70 stores in the first wave, covering major tier 1 and tier 2 cities.