Xiaomi’s entry into the electric vehicle market with the SU7 has caused quite a stir, boasting impressive pre-order numbers and ambitious production targets. Within just weeks of its launch, the SU7 had garnered over 70,000 locked-in orders, a feat attributed to Xiaomi’s strong brand recognition and consumer trust, spearheaded by company founder Lei Jun.
Initially aiming for a production scale of 6,000 units per month, Xiaomi found itself facing overwhelming demand, prompting a revision of their targets. Now, the company plans to produce over 10,000 vehicles per month, with a commitment to fulfill 100,000 orders by the end of 2024, highlighting their determination to meet consumer demand head-on.
The SU7 lineup comprises three versions, catering to various consumer preferences and budgets. With prices ranging from RMB 215,900 to RMB 299,900, Xiaomi offers a standard model, a Pro version, and a top-of-the-line Max model, providing options for customization and speed of delivery, including a limited run of Founders Edition cars for early adopters.
While Xiaomi’s Beijing-based EV factory initially boasts an annual production capacity of 150,000 vehicles, further expansion plans are in the pipeline. However, this capacity might limit the SU7’s total output until at least 2025, indicating potential challenges in meeting the soaring demand for their electric vehicles in the near term.
With deliveries of the standard and Max models already underway and the Pro version scheduled for release in late May, the SU7’s success could herald a significant disruption in the EV market. If Xiaomi can sustain the momentum generated by its pre-launch hype, it may reshape consumer expectations and industry dynamics in the burgeoning electric vehicle sector.
