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XIAOMI-W has stopped production of the first-generation SU7 as the company prepares to launch an updated version of the electric sedan in two months.

The final first-generation Xiaomi SU7 has rolled off the production line and is en route for delivery to its owner, Xiaomi founder, chairman, and CEO Lei Jun said during a live video broadcast on Tuesday.

This marks the official end of production for the first-generation Xiaomi SU7, Lei said, adding that the cumulative deliveries for the sedan approach 370,000 units.

Launched on March 28, 2024, the SU7 is Xiaomi's first vehicle model and began deliveries in April 2024.

The model, positioned as a competitor to Tesla (NASDAQ: TSLA) Model 3, enabled Xiaomi to achieve rapid success in China's EV market, averaging nearly 20,000 monthly deliveries.

Taking nearly two years to update an EV model represents an uncommon approach in the Chinese market. Many other EV makers typically update a model once or more annually to stay competitive.

Xiaomi began pre-sales for the updated SU7 on January 7, with a starting price of RMB 229,900 ($33,270). This represents a RMB 14,000 increase, or 6.48%, over the previous generation's starting price of RMB 215,900.

This narrows the price gap between the Xiaomi SU7 and Tesla Model 3 from RMB 19,600 to RMB 5,600.

Notably, following Chinese EV industry practice, the official launch price of a new model typically falls below the pre-sales price.

The next-generation SU7 is expected to launch in April, Xiaomi's EV unit Xiaomi EV announced on January 7. It will come standard with LiDAR and enhanced smart driving hardware.

The updated SU7 entered China's Ministry of Industry and Information Technology regulatory catalog last month, preparing for its market launch.

Beyond the standard SU7, Xiaomi also offers the high-performance SU7 Ultra electric sedan.

Xiaomi's current sales are primarily driven by the YU7 SUV (sport utility vehicle), launched on June 26, 2025, which competes with the Tesla Model Y.

Xiaomi EV delivered "over 39,000 vehicles" in January, the company said earlier this month. This figure is lower than December's record 50,212 units, primarily due to the upcoming SU7 model refresh.