Xiaomi's SU7 sold out on the first day of its launch, but the smartphone maker's early losses show it will take time for the new EV player to turn a profit.Costfoto/NurPhoto via Getty ImagesTech firm and new EV maker Xiaomi revealed just how much cash it's burning to make its cars.The tech firm's EV branch lost about $252 million from April to June, or $9,200 per car.Xiaomi has only one car, the Speed Ultra 7, but it holds ambitious plans to expand its range of smart vehicles.Chinese tech giant Xiaomi, known for making smartphones, turned heads in March when its maiden electric vehicle sold out with almost 90,000 preorders within a day of launch.Its new auto branch posted an adjusted loss of $252 million for the second quarter ending June 30 — its first-ever full delivery quarter, the company said in its unaudited results filed on Wednesday.That's despite Xiaomi saying it's on track to smash its target of 100,000 deliveries of its first car, the Speed Ultra 7, by November.The new electric vehicle maker said it delivered 27,307 SU7s in the second quarter, meaning that, on average, it lost $9,200 for each car.