Xiaomi’s SU7 electric sedan sets delivery target amidst EV price war in China

Xiaomi SU7 (Photo credit: MI Global)

Chinese tech giant Xiaomi has made significant strides in the electric vehicle (EV) market with its sporty SU7 electric sedan. Founder Lei Jun revealed impressive figures during the Beijing auto show, indicating strong demand and ambitious delivery targets.

Record-breaking orders

Xiaomi has secured 75,723 orders for its SU7 electric sedan as of April 24, setting a new record for an EV startup. The surge in orders come less than a month after the sedan’s launch, highlighting the growing popularity of Xiaomi’s entry into the automotive sector.

Aggressive delivery goals

Lei Jun announced plans to deliver over 10,000 units of the SU7 electric sedan in June, demonstrating Xiaomi’s commitment to meeting consumer demand, and scaling up production rapidly. This target shows the company’s determination to establish a strong presence in the competitive EV market.

Focus on the Chinese market

Xiaomi intends to keep its automotive business exclusively focused on the Chinese market for the next three years, with a target of over 100,000 deliveries for the SU7 in 2024. This strategic decision allows Xiaomi to concentrate its resources and efforts on capturing market share, while building brand loyalty domestically.

Acceleration of deliveries

To meet growing demands, Xiaomi expedited deliveries of the standard and Max versions of the SU7 to April 18, 12 days ahead of schedule. Additionally, the company plans to commence deliveries of Pro models by the end of May, further expanding its product offerings and catering to diverse consumer preferences.

Triggering an EV price war

The launch of the SU7 electric sedan has ignited a price war in China’s EV market, with automakers rushing to offer competitive pricing and subsidies. Drawing inspiration from Porsche and undercutting Tesla’s Model 3 on pricing, Xiaomi’s entry into the market has intensified competition, benefitting consumers with better value and affordability.

Call for global talent

Despite its achievements, Xiaomi acknowledges the need for additional talent to support its automotive ambitions. Lei Jun emphasised the importance of expanding the company’s auto team, inviting global talent to contribute to Xiaomi’s car-making endeavours. This recruitment drive reflects Xiaomi’s commitment to innovation and excellence in the automotive sector.

Xiaomi’s foray into the electric vehicle market with the SU7 electric sedan marks a significant milestone in the company’s expansion beyond smartphones. With record-breaking orders and ambitious delivery targets, Xiaomi is poised to disrupt the automotive industry in China, driving innovation and competition.

As the EV price war heats up, consumers stand to benefit from increased affordability and choice, while Xiaomi aims to establish itself as a key player in the rapidly evolving automotive landscape. With a focus on the Chinese market and a call for global talent, the company is well-positioned to shape the future of electric mobility and redefine the driving experience for consumers worldwide.

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