When it comes to automobile manufacturing, Lei Jun and Xiaomi are undeniably newcomers, having unveiled their maiden vehicle, the SU7, in March of this year and commenced deliveries in April.

Remarkably, by November, Xiaomi had already shipped over 113,000 SU7s. In November alone, they delivered over 23,000 units, culminating in a total of 135,000 SU7s for the entire year of 2024.

Initially, Lei Jun set a goal of delivering 120,000 units in 2024, which was later revised upwards to 130,000. However, Xiaomi has surpassed both targets, underscoring Lei Jun's commitment to fulfilling his promises without exaggeration.

This accomplishment is unparalleled among all previous new energy vehicle (NEV) companies, setting a benchmark that will be challenging for future entrants to match.

During a livestream, Lei Jun revealed that over a year ago, he consulted with 23 media professionals, all of whom believed that a monthly sales volume of 2,000 units would be remarkable for Xiaomi. Clearly, these predictions have been surpassed.

This context explains Lei Jun's pre-launch concerns: firstly, that no one would buy the car, and secondly, that if too many people did, production capacity might not keep up, leading to criticism. Given the media's prediction of a maximum monthly sales volume of 2,000 units, his first concern seemed plausible at the time.

However, the first concern did not materialize, while the second did. Demand for the SU7 far exceeded expectations, leading to a significant backlog. Those who missed the initial batch had to wait for at least half a year. Lei Jun was affectionately dubbed the "King of Backorders in Beijing."

Even today, placing an order for an SU7 entails a wait of five months, despite a monthly delivery volume exceeding 20,000 units. This suggests that Lei Jun may still have up to 100,000 backorders to fulfill.

For 2025, Lei Jun has set an ambitious target of delivering 300,000 cars, another record-breaking goal for a company that has been in the market for less than a year.

It remains to be seen whether Lei Jun will meet or exceed this target, potentially necessitating an increase to 350,000, 400,000, or even 500,000 units.

Currently, Xiaomi ranks third globally and first in China in terms of automaker market value, trailing only Tesla and Toyota but ahead of BYD. While some may dismiss this ranking, capital markets are often the smartest gauge of potential. Xiaomi's ascent signifies investor optimism about its future prospects, warranting a positive outlook.