The Chinese tech giant Xiaomi is gearing up to mass produce its much-anticipated electric vehicle, the SU7. According to reports from China, the production is expected to kick off in mid to late February, immediately after the conclusion of the Chinese New Year festival on February 19.
Given the potential disruptions caused by the festival, Xiaomi plans to start production after the break, with an initial output of around 2,000 units slated for March. The production capacity is projected to increase steadily, reaching an impressive 10,000 units by July. The company has ambitious plans to maintain this production level beyond July, setting the stage for the first deliveries.
Xiaomi’s founder and CEO, Lei Jun, unveiled the SU7 in late December last year during a launch event in Beijing, China. At the event, Lei Jun expressed the company’s ambition to become one of the world’s top 5 automakers within 15 to 20 years. He emphasized Xiaomi’s goal of creating a dream car that rivals industry leaders like Porsche and Tesla.
|Rear Wheel Drive
|All Wheel Drive
|HyperEngine V6 with 21000RPM
|HyperEngine V8 with 27200RPM
|73.6kWh Li-ion (400 volts)
|101kWh Li-NMC (800 volts)
|668km (factory condition dyno)
|800km (factory condition dyno)
Insiders reveal the SU7 sedan boasts remarkable features, including acceleration from 0 to 100 km/h in just 2.8 seconds and seamless connectivity with devices from smartphones to home appliances.
However, the pricing details for the SU7 have been a subject of speculation and discussion.
Recent reports suggest that the top-trim version of the SU7 could be priced at approximately $50,950. This pricing positions Xiaomi’s electric vehicle in a competitive range, signaling the company’s intent to make a mark in the electric vehicle market.
The mass production is scheduled to meet the start of production (SOP) requirements, and the company aims to achieve monthly output milestones, starting from 2,000 units in March and scaling up to over 10,000 units by July.
Wang Hua, the general manager of Xiaomi’s public relations department, addressed speculation about the SU7’s pricing on Weibo, stating that internal vehicles are beginning to be licensed. He emphasized that this is part of the comprehensive testing process involving sales, delivery, and service. Xiaomi remains committed to ensuring a smooth launch of its electric vehicle.
The SU7’s anticipated pricing has generated significant interest, with some market speculations suggesting a range between RMB 250,000 and RMB 370,000. This pricing places it in the league of premium electric vehicles, challenging competitors like Tesla.
Xiaomi, initially known for its disruptive entry into the smartphone market, is now eyeing a similar impact in the electric vehicle space. The company officially announced its foray into the automotive business in March 2021, with an initial investment of RMB 10 billion and a projected investment of $10 billion over the next decade.
Analysts at Morgan Stanley are optimistic about Xiaomi’s potential in the electric vehicle sector, noting that the Xiaomi EV could be a disruptive force. As the company prepares for the mass production of the SU7, all eyes are on Xiaomi’s journey to make a significant mark in the competitive and rapidly evolving electric vehicle market.