Xiaomi’s First EV, the SU7, Sells Out 2024 Stock in 24 Hours

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Xiaomi's First EV, the SU7, Sells Out 2024 Stock in 24 Hours

The launch of the Xiaomi SU7 in China last week marked a significant moment as Xiaomi, a brand renowned for its electronics, ventured into the automotive industry with its first car. This battery-powered sedan, which directly rivals the Tesla Model 3, drew immense attention for its larger size yet lower price point.

Remarkably, within just four minutes of the order window opening, 10,000 eager customers in China had already placed preorders for the SU7. This number skyrocketed to 50,000 after 27 minutes, culminating in nearly 90,000 preorders by day’s end.

This overwhelming response underscores the high demand for Xiaomi’s debut vehicle, a notable achievement for a company venturing into car manufacturing for the first time. Those who made a deposit of 5,000 yuan ($850) now face a wait of up to seven months to receive their SU7, as reported by Reuters based on the delivery schedule found in the company’s car app.

With deliveries anticipated to start by the end of this month, the top-tier Max model, priced at 299,900 yuan ($41,500), has a projected delivery timeframe of 27 to 30 weeks, indicating that customers might not receive their vehicles until the following year.

For those interested in the Xiaomi SU7, the entry-level Standard version starts at a price of 215,900 yuan ($29,900), while the SU7 Pro is available for 245,000 yuan ($33,990), with both versions expected to be delivered within 18 to 21 weeks. The SU7 distinguishes itself with electric motors engineered by Xiaomi, offering configurations in either rear-wheel drive or all-wheel drive. It’s built on a cutting-edge 800-volt system and uses high-voltage batteries from CATL or BYD, achieving up to 515 miles (830 kilometers) of range according to the CLTC procedure.

China’s BAIC is tasked with manufacturing the car under contract in a new Beijing facility, boasting an initial capacity of 150,000 vehicles annually, which is expected to double in its second phase.

Priced around $4,000 less than the Tesla Model 3 in China, the SU7 not only offers a longer driving range but also features more interior screens, a head-up display, and a more luxurious interior. It seamlessly integrates technology with Xiaomi’s range of consumer products. Despite the presence of more affordable options like the Zeekr 007, Xiaomi’s entry into the competitive Chinese EV market has been notably successful, likely a testament to its strategic marketing efforts.

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