36 hours after the launch of Xiaomi’s first electric car, the SU7, it is already out of stock. All available copies have been ordered, already totaling nearly 120,000 sales.
A few days ago, Xiaomi revealed the latest details about its first electric car, the SU7 sedan, and took advantage of its conference in China to launch orders. The cars had largely impressed the audience thanks to their high-end technical specifications, but above all because of their prices which were much lower than we could have hoped.
The basic Xiaomi SU7 was marketed at 27,640 euros, i.e. more than 4,000 euros less than the Chinese Tesla Model 3. The Pro and Max versions are available at 31,480 euros and 38,386 euros, more than 100,000 euros less than a Porsche Taycan. As expected, CEO Lei Jun confirmed that the cars were sold at a lossbecause otherwise it would have been impossible to achieve such prices for such high performance.
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The Xiaomi SU7 can be purchased in just a few hours.
We only had to wait 27 minutes for the Xiaomi SU7 to reach 50,000 sales. The Chinese manufacturer then announced that it had sold 88,898 electric cars in 24 hours, then had sold out all 120,000 copies available in just 36 hours.
With its aggressive pricing and cutting-edge performance, it’s no surprise that the Xiaomi SU7 was a hit. It now remains to be seen when Xiaomi will reopen orders, and we can now wonder if the car will keep this attractive price for future sales or if the Chinese manufacturer will decide to increase prices to generate a margin.
During the MWC show, where we were able to see the car, Xiaomi had hinted that it will not be limited to China. The latter should arrive one day or another here in Europe, but this will probably not happen not before at least 2025, if not 2026. What is certain is that Tesla now has a new competitor who does not hesitate to be very aggressive on prices to gain a place in the market. Elon Musk could then also be forced to adjust his prices, at least in China initially.