Xiaomi, world’s second largest smartphone maker, has now entered the electric vehicle (EV) market with a bang, launched its new electric car SU7 and got around 88,898 pre-orders within the first 24 hours of opening orders – signaling a significant shift in the dynamics of the EV industry.
The Details
The SU7, priced competitively at 215,900 yuan ($29,870) for the standard model, has garnered attention not only for its affordability but also for its sleek design, drawing comparisons to luxury sports car models like Porsche’s Taycan and Panamera.
Despite being a newcomer in the EV market, Xiaomi’s SU7 has quickly captured the interest of consumers in the highly competitive Chinese auto market.
With such overwhelming demand, Xiaomi has announced that potential buyers may face wait times of four to seven months for delivery of their SU7. Deliveries for the standard model are estimated to take 18-21 weeks, while the Pro model and the most expensive variant could take even longer, up to 30 weeks.
Xiaomi’s entry into the EV market comes at a time when competition is fierce, with established players like Tesla and BYD dominating the scene. However, Xiaomi’s deep pockets and expertise in consumer electronics, particularly smartphones, give it a unique advantage.
The company’s emphasis on smart features, such as advanced dashboards, aligns well with the preferences of Chinese consumers, further enhancing its appeal in the market.
Moreover, Xiaomi’s launch of the SU7 has spurred other EV manufacturers to offer competitive deals and discounts to attract consumers. Companies like Huawei-backed Aito and Xpeng have announced subsidies and discounts on their electric SUV models, while Chery is offering incentives on its gasoline-engine vehicles.
As Xiaomi shakes up the EV market with its SU7, it’s clear that the company’s foray into electric cars has the potential to disrupt the industry and challenge established players.
What is your take on the new Xiaomi SU7? Share your thoughts with us in the comments section.
