Xiaomi’s venture into electric vehicles came to light in 2021, and its impact is already reverberating across the EV environment, including Tesla. The brand’s inaugural model, the SU7 electric sedan, is now available for order in China at a starting price of 215,900 yuan ($29,879), posing a bold challenge to the Tesla Model S.
Despite its relatively recent foray into the automotive world, Xiaomi’s trajectory mirrors its ascent as a phone manufacturer back in 2011. Within two years, it became China’s fifth-most-used smartphone brand, and by 2021, it claimed the position of the world’s third-largest smartphone maker, trailing only Apple and Samsung.
Amidst these milestones, Xiaomi confirmed rumors of its electric vehicle ambitions in March 2021. Merely three years later, Xiaomi has opened reservations for its debut electric vehicle, the SU7 executive sedan. It enters the market with a competitive edge, undercutting Tesla’s pricing.
Notably, the SU7 competes directly with the Tesla Model S, with its mid-range trim, the SU7 Pro, priced at a similar level to the Model 3 RWD in China. Xiaomi’s marketing strategy seems targeted towards Model 3 owners, urging them to consider an upgrade.
With a starting price of 215,900 yuan ($29,875) for the base variant SU7 Standard and a top-of-the-range Max variant priced at 299,900 yuan ($41,500), Xiaomi’s SU7 presents a compelling option.
The company has adopted a Tesla-inspired approach, offering “Founders Edition” units without a price premium, limited to 5,000 units. Impressively, these units will be available at the same price as regular trims, with deliveries commencing on April 3.
Xiaomi’s reservations for the SU7 saw significant traction, amassing 10,000 firm orders within the first four minutes and 50,000 orders within 27 minutes of opening.
Prospective buyers interested in the Founders Edition SU7 are required to submit a non-refundable deposit of 20,000 yuan ($2,765), while those opting for regular variants can secure their reservation with a refundable deposit of 5,000 yuan ($690) within seven days of ordering.
Distinguishing itself in performance and range, the SU7 Standard and Pro variants feature single-motor rear-wheel-drive setups, while the SU7 Max boasts a dual-motor all-wheel-drive configuration.
Xiaomi differentiates the three trims by battery type, offering varying capacities and driving ranges. Furthermore, Xiaomi is exploring vision-only self-driving capabilities akin to Tesla’s FSD, with testing set to commence in April and nationwide availability in China expected by August.