On April 23rd, Lei Jun, the founder, chairman, and CEO of Xiaomi, stated at the Xiaomi Group Investor Conference that the gross margin for the Xiaomi SU7 is expected to be between 5% and 10%.

He mentioned, “The sales volume on April 23rd was significantly higher than expected, and we still need to carefully calculate the specific figures.”

Lei Jun also noted that the current annual budget for the smart driving team is about 1.5 billion yuan, with over 1000 engineers. It aims to expand the team to 1500 people this year, and 2000 people next year, further increasing investment in smart driving.

Regarding overseas market planning, Lei Jun said that in terms of business deployment, they will fully focus on the domestic market for the next three years, as doing well in the Chinese market is the first step for Xiaomi.