Xiaomi SU7 electric sedan has made its grand entrance into the automotive market, captivating consumers in China with its cutting-edge features and competitive pricing. Launched officially on March 29, the sleek electric vehicle has already garnered an astounding 88,898 confirmed orders within the first 24 hours, signaling a promising start for Xiaomi’s venture into the automotive realm.
Orders for the car had exceeded 50,000 units within 27 minutes since sales started at 10 p.m. Beijing time on Thursday, Xiaomi announced. “My excitement today can’t be described in words,” Lei said on Thursday night.
Xiaomi’s partnership with Beijing Automotive Industry Holding Co. (BAIC) has facilitated the production of the SU7 at the new Xiaomi facility in Beijing, operated by BAIC Off-road Vehicle Co. As per China’s Ministry of Industry and Information Technology (MITT), mass production of the SU7 has already commenced, with customer deliveries set to kick off by the end of April.
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Xiaomi CEO Lei Jun unveiled the SU7 with much fanfare, announcing a base price of 215,900 yuan ($29,900), strategically positioned to undercut competitors like the Tesla Model 3 by 30,000 yuan ($4,100). The SU7 comes in three distinct trims, each offering different battery configurations. The flagship variant boasts an impressive 800 km driving range, accelerates from 0 to 100 km/h in just 2.78 seconds, and achieves a top speed of 265 km/h, courtesy of its 800V architecture, 101kWh battery, and dual motor AWD setup.
Having already showcased the SU7 to European audiences earlier, Xiaomi is gearing up for international expansion, demonstrating its commitment to becoming a key player in the global electric vehicle market. However, with the overwhelming response received in China, the company faces the significant task of fulfilling orders promptly while maintaining production quality.
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Xiaomi’s foray into electric vehicles comes amidst intense competition in China’s automotive industry, which boasts over 200 major manufacturers producing pure EVs and plug-in hybrids. With its aggressive pricing strategy and innovative features, the SU7 aims to carve out a niche in the market, targeting premium consumers while competing effectively against established rivals.
The collaboration between Xiaomi and BAIC underscores the strategic importance of leveraging existing manufacturing expertise to streamline production processes and meet consumer demand effectively. With BAIC Off-road Vehicle Co. handling assembly operations, Xiaomi ensures a seamless transition into the automotive sector while maintaining high-quality standards.
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The Xiaomi Beijing plant, with an annual production capacity of 150,000 vehicles initially, has the potential to scale up to 300,000 vehicles in the second phase. With production ramping up, Xiaomi anticipates a full year of production in 2024, aiming to deliver approximately 100,000 units to eager customers. Despite initial challenges, the company remains optimistic about its prospects in the burgeoning electric vehicle market.
