Xiaomi, the second largest smartphone manufacturer in the world, has officially made its mark in the electric vehicle (EV) market by launching its new electric car SU7. The company received a staggering 88,898 pre-orders within the first 24 hours of opening orders, indicating a major shift in the EV industry dynamics.
Key Points
The SU7, priced at 215,900 yuan ($29,870) for the standard model, has captured attention for its affordable price and stylish design, drawing comparisons to high-end sports car models like Porsche’s Taycan and Panamera.
Despite being a newcomer in the EV market, Xiaomi’s SU7 has quickly caught the eye of consumers in the competitive Chinese auto market.
Due to the overwhelming demand, Xiaomi has warned potential buyers that they may have to wait four to seven months for their SU7 to be delivered. Delivery times for the standard model are estimated to be between 18-21 weeks, while the Pro model and the priciest variant could take up to 30 weeks.
Xiaomi’s entry into the EV market comes at a time of intense competition, with established players like Tesla and BYD dominating the industry. However, Xiaomi’s strong financial backing and experience in consumer electronics, particularly smartphones, give it a unique advantage.
The company’s focus on innovative features, such as advanced dashboards, aligns well with Chinese consumers’ preferences, making it more appealing in the market.
Furthermore, Xiaomi’s introduction of the SU7 has prompted other EV manufacturers to offer competitive deals and discounts to attract customers. Companies like Huawei-supported Aito and Xpeng have announced subsidies and discounts on their electric SUV models, while Chery is offering incentives on its gasoline-powered vehicles.
As Xiaomi disrupts the EV market with the SU7, it is evident that the company’s venture into electric cars has the potential to shake up the industry and challenge established players.
What are your thoughts on Xiaomi’s new SU7? Feel free to share your opinions in the comments section below.
