How Xiaomi’s Electric Vehicle Sales and Specs Compete with Those of Tesla and BYD.

Xiaomi’s electric vehicle (EV) is doing better than anticipated and is a serious threat to Tesla. The Chinese tech behemoth has successfully undercut the competition by selling its Speed Ultra 7 (SU7) electric automobile for a substantial less than Tesla’s Model 3. Despite Lei Jun, the CEO of Xiaomi, having previously said that each car will be sold at a loss, the company’s SU7 sedan has received over 70,000 orders, exceeding its annual sales goal of 100,000 electric vehicles.

Although Xiaomi initially projected a low gross profit margin of 5% to 10%, the success of its automobile division may exceed projections. Huge investments in the automotive industry have backed Lei Jun’s audacious goal of making Xiaomi a top automaker.

In March, Xiaomi unveiled the SU7, which costs $40,000 less than Tesla’s Model 3.

Xiaomi SU7 Electric Sedan Sales

With 12% of the worldwide smartphone market share, Xiaomi is mainly recognized as a manufacturer of smartphones. Based on sales volume, Xiaomi is the third-largest phone vendor in the world, according to Counterpoint. According to sources, sales of Xiaomi’s electric vehicle, the SU7, have exceeded forecasts and are now three to five times more than predicted. Standard SU7 versions are currently being delivered to clients by the company. A whopping 34 million people watched the live stream event featuring the automobile on Douyin, the well-known Chinese version of TikTok.

According to the China Passenger Car Association, Tesla China sold over 600,000 units in the previous year. Furthermore, during the same period, Nio sold almost 160,000 cars, compared to 376,000 cars sold by Li Auto.

Xiaomi Rivalling American Tesla and BYD

Xiaomi’s foray into the automotive industry sees its vehicles competing directly with American counterparts like the Tesla Model 3 and BYD, boasting a minimum range of 700 km (435 miles). By comparison, the Tesla Model 3 offers a minimum range of 576 km. One of the standout features of Xiaomi’s SU7 is its operating system, designed to mirror the familiarity found in their laptops, phones, and other devices, a move aimed at appealing to consumers.

Drawing inspiration from Porsche, Xiaomi’s car styling incorporates cues reminiscent of the renowned luxury brand. Furthermore, the Chinese EV comes with a price tag of $30,000, presenting a more affordable option compared to the base model of Tesla, priced at $34,000. The company has initiated deliveries from a limited initial batch of 5,000 cars, with early buyers receiving additional perks. These initial vehicles, termed “Founder’s Edition,” are being delivered in Beijing and Shenzhen, alongside the standard version.

The CEO of Xiaomi said that the company will be concentrating on the SU7 and that there are no plans to produce off-road cars. $10 billion (£7.9 billion) will be invested by the corporation in its automobile development division. The investment will not be made all at once; rather, it will happen over the course of the following ten years.

What is the cost of the Xiaomi EV car, the SU7?

Chief Executive Lei Jun stated that there will be two price points for the SU7: standard and Max.

The cost of the SU7 standard model is roughly 215,900 yuan, which is equal to about $29,872 or £23,663.
The cost of the Xiaomi SU7 Max variant is 299,900 yuan.

The SU7 got almost 50,000 orders for the company in just 27 minutes after its launch. In the automotive market, a price war has broken out with the entry of Chinese cars. In contrast to the generally chaotic state of the market, Xiaomi has had very robust sales growth despite a global decrease in auto sales.

What Parking Aids Are Available with Xiaomi SU7?

• Front and rear sensors
• 360-degree camera
• Rearview camera
• Automated Parking Assistance System

What Driving Aids Are Available with Xiaomi SU7?

• 1 LiDAR
• 3 mmWave radars
• 11 cameras
• 12 sensors
• Front and rear sensors
• 360-degree camera
• Rearview camera
• Automated Parking Assistance System
• Sensors
• Forward/Rear/Lateral Collision Prevention
• Lane Centering
• Lane Change Assist
• Lane Departure Warning
• Emergency Braking
• Pedestrian and Cyclist Monitoring
• High Beam Assist
• Blind Spot Alert
• Door Open Warning

Feel free to share your thoughts on the Xiaomi EV Car Super Ultra 7 (SU7) in the comments below.