The recently launched Xiaomi SU7 sedan is already enjoying a strong demand in China as the waiting period for the vehicle has already stretched up to seven months, the company’s app showed. The electronics giant opened orders for the vehicle last week, soon after it announced the prices of the car which started at USD 29,870. The company confirmed that it has already hit pre-orders of 88,898 units in the first 24 hours of the launch.
The waiting period for the SU7 Pro model is 18-21 weeks, while the more expensive model, SU7 Max, priced at 299,900 yuan, will take 27-30 weeks to be delivered to customers.
Apart from these two editions, Xiaomi also released two other special versions of the car, which are a part of the ‘Founder’s Edition’. As part of the campaign to kick-off sales, these vehicles are being offered with complimentary gifts such as refrigerators. The first batch of 5,000 such cars were sold out immediately after the company opened bookings.
The company plans to open the second round of sales for the Founder’s Edition soon, the company’s co-founder and CEO Lei Jun informed in a Weibo post. However, he didn’t specify the quantum. He also said that during the ordering process for the Founder’s Edition, the company identified and blocked some abnormal orders and those placed by scalpers.
Xiaomi, best known for its smartphones and a wide range of affordable appliances, decided to foray into EV segment in 2021. The launch of the SU7 fulfils the ambition of Xiaomi’s founder, who pledged to invest USD 10 billion in its auto business as “the last major entrepreneurship project” of his life. Before even getting the regulatory approval to start manufacturing in China, the company built a Beijing factory capable of producing 200,000 cars annually. State-owned automaker BAIC Group disclosed in November it would make the cars for Xiaomi – at the same Xiaomi plant.
However, analysts have been split on whether Xiaomi’s car project will succeed. While some say it is a natural extension for the company, others are not sure if it will be able to sustain its car business.