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Xiaomi’s Tesla Model 3 competitor celebrates 10k production milestone

Credit: Xiaomi/X

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Xiaomi EV recently announced a remarkable achievement. Just 32 days since the launch of the Xiaomi SU7, an all-electric sedan aimed at the Tesla Model 3, the tech giant has produced its 10,000th vehicle. Xiaomi celebrated the milestone with a photo and an official post on Chinese social media platform Weibo. 

As per Xiaomi’s Weibo post, the company went from producing zero vehicles to 100,000 in the span of three years. “In 3 years, from 0 to 1, and then from 1 to 10,000, we have turned all kinds of ‘impossible’ into possibilities,” Xiaomi wrote. The company also noted that it is making every effort to expand its production capabilities, and it is working to deliver 100,000 SU7 sedans this year. 

Xiaomi also shared its optimism for the future. “We believe that one day, there will be Xiaomi cars driving on every road in the world!​​​“ the EV maker wrote. 

The Xiaomi SU7 was officially launched on March 28, 2024. During the vehicle’s launch event, Lei Jun, founder, chairman and CEO of Xiaomi, noted that the SU7’s target demographic is the same as the Tesla Model 3. “Many people ask me who the Xiaomi SU7 is built for. My answer is, ‘Isn’t it time for Tesla Model 3 users to upgrade?’” he said. 

As noted in a CNEV Post report, Xiaomi started deliveries of a “Founders Edition” variant of the SU7 on April 3. By April 24, the company announced that it had locked-in orders of 75,723 units. At the time, Lei noted that 5,781 SU7 sedans had been delivered. The CEO also noted that Xiaomi is targeting monthly deliveries of over 10,000 SU7 sedans in June 2024. 

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Lei is among China’s most ardent supporters of battery electric vehicles. On April 14, 2024, Tesla CEO Elon Musk handed over the first 15 Model S sedans in China. Among the buyers of the premium all-electric sedan was Xiaomi founder Lei Jun, as well as Li Xiang, who would later go on to start Li Auto, an electric vehicle company. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Bizarre Tesla Cybertruck attacker in South Korea arrested and detained

The man is also accused of assaulting several people and damaging other vehicles during the incident.

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Credit: Tesla

A man who attacked a Tesla Cybertruck in South Korea’s Gangnam district has been arrested and detained.

As per reports, the man is also accused of assaulting a person and damaging several other vehicles during the incident.

The Incident

As per authorities, the suspect, who is in his 30s and is dubbed “Mr. A” (suspect names are typically not disclosed in South Korea to protect privacy and prevent possible prejudice), allegedly assaulted a hotel employee on the morning of April 15. 

Following the assault on the hotel employee, the suspect reportedly knocked over a delivery motorcycle. He then went over and kicked a Tesla Cybertruck that was owned by a nearby medical facility. One of the all-electric truck’s side mirrors was damaged due to the attack. 

As per a News 1 Korea report, Mr. A has also been accused of kicking four BMW vehicles at a nearby auto shop. The BMWs’ passenger side doors were damaged by the suspect.

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Charges and Arrest

As per the Seoul Gangnam Police Station in an announcement, an investigation into the incident is underway. The suspect was arrested on charges of special assault, property damage, and obstruction of business.

Authorities apprehended Mr. A in Seongnam, Gyeonggi Province, on April 18. An arrest warrant from the court was released the day after.

Cybertruck Attacks

The Tesla Cybertruck attack in South Korea is quite bizarre as the suspect assaulted both people and vehicles. The incident, if any, seems to be quite different from the attacks on Teslas that have been reported in the United States and Europe, which seemed to be political in nature and a response to CEO Elon Musk’s close relationship with President Donald Trump.

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Barclays cuts Tesla price target, questions Musk’s White House role

Barclays cuts Tesla price target and warns that Elon Musk’s Trump ties are a “code red” for the TSLA’s brand. 

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(Credit: Tesla Europe & Middle East/X)

Tesla’s (NASDAQ:TSLA) stock price target was slashed 15% by Barclays to $275 from $325. Barclays analysts cited weaker fundamentals and challenges in achieving 2025 unit volume growth as reasons for cutting Tesla’s price target. The firm retained an equal weight rating on TSLA, noting that CEO Elon Musk could shift sentiment during the upcoming Q1 earnings call.

Barclays believes Musk’s discussion of Tesla’s robotaxi launch in June could overshadow short-term issues, stating, “good narrative could outweigh weak fundamentals.” The investment bank also commented that Musk’s work with the Trump Administration has become a “code red situation” for Tesla.

Musk’s involvement with President Trump and his administration has caused some waves in the perception of the Tesla brand. Other investment firms also see Musk’s work with the U.S. government as negative for Tesla.

Wedbush Securities’ Dan Ives urged Musk to prioritize his CEO role over government involvement. “We also would expect Musk to address his role in the Trump Administration and will be asked about if he plans to stay in an advisory role for the White House,” Ives said. The Wedbush analyst emphasized that Musk must “lay out the timeline/hard facts” for autonomous vehicles, robotics, and production on Tesla’s “new lower-cost vehicle.”

“We view this as a fork in the road time: if Musk leaves the White House, there will be permanent brand damage… But Tesla will have its most important asset and strategic thinker back as full-time CEO to drive the vision, and the long-term story will not be altered. If Musk chooses to stay with the Trump White House, it could change the future of Tesla, and brand damage will grow. A huge week ahead for Musk, Tesla, and investors,” Ives wrote in a note.

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Tesla’s stock has faced pressure from Musk’s government ties, tariffs, and lower-than-expected deliveries. However, Benchmark analyst Mickey Legg countered the pessimism, arguing that current concerns over Tesla are exaggerated given the company’s future prospects.

“We believe the recent stock pullback and sales declines, while significant, are overblown considering the near-term issues impacting the company and the scope of opportunities around the corner. After appreciating over 90% to a high of $488 after the Presidential election, the stock has pulled back to sub-$300 levels,” Legg wrote in a note earlier this month.

The Benchmark analyst urged investors to focus on catalysts like robotaxis and new vehicle models. As Tesla’s earnings approach, Musk’s leadership and strategic clarity will be pivotal in addressing investor concerns and shaping the company’s trajectory.

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Tesla Model Y seen testing under wraps in India ahead of launch

Tesla appears to be getting closer to launching vehicle sales in India, as a few wrapped Model Y units have recently been spotted.

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Following years of back and forth between Tesla and the Indian government, the automaker is finally expected to launch sales in the country in the coming months, and one of the company’s vehicles was spotted testing over the weekend.

On Sunday, a privacy-wrapped Model Y was seen driving in India and was posted on Reddit, as Tesla prepares to debut vehicle sales in the country for the first time. The news comes a little over a month after Tesla began certifying the Model Y and Model 3 for sale in the country, and as the U.S. manufacturer gets ready to launch the nation’s first store in Mumbai.

The appearance of the refreshed Model Y comes just a few days after another recent sighting in the country, in which a wrapped unit was seen driving on the Mumbai Pune Express Way.

Credit: shameelck | Reddit

READ MORE ON TESLA INDIA: Elon Musk, President Trump share interesting dialogue regarding Tesla Gigafactory India

Tesla’s vehicles can regularly be seen under privacy wraps such as this one ahead of their launch, often with the company’s vehicles before they’re officially unveiled. As such, many have speculated following the sighting that Tesla could either be preparing to launch the RWD variant launched in some markets in recent weeks, or the Performance version of the SUV, which is widely expected to debut sometime this year.

According to local reports, Tesla also signed a five-year lease on Mumbai store at the Bandra Kurla Complex, while a second store is expected to open near the New Delhi airport at Aerocity. Meanwhile, Tesla has also been hiring for the stores in recent months, along with holding a recruitment day in Mumbai last month.

Much of the delay on Tesla’s entry into India came from the country’s high import tariffs on vehicles and other products, while one of the government’s conditions for the country selling cars there was to utilize local suppliers. Last month, a rumor started circulating suggesting that Tesla was partnering with automotive company Tata Group for the local production of components such as castings, forgings, electronics, and more.

Tesla India: Thousands of cars set to hit Mumbai in coming months, claims report

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