Xiaomi's EV Launch Receives Massive Response with 120K Orders in 36 Hours

The SU7's competitive pricing and specifications position it as a strong contender against Tesla's Model 3, despite financial loss predictions.

Xiaomi's debut electric vehicle, the SU7, has received an overwhelming response with 120,000 orders within 36 hours of its launch, indicating a strong market entry.
The SU7's pricing undercuts Tesla's Model 3 in China, with Xiaomi's CEO Lei Jun positioning the SU7 as a superior option for Tesla Model 3 users looking for an upgrade.
Despite Xiaomi's confidence in the SU7's superior specifications and competitive pricing, analysts predict the company will face substantial financial losses on each car sold.
Xiaomi's entry into the electric vehicle market reflects its ambition to compete against established automakers and tech companies, leveraging its smartphone expertise and financial resources.
Delivery wait times for the SU7 have extended up to seven months due to high demand, with Xiaomi ramping up production to meet the unprecedented interest.