Xiaomi’s All-Electric SU7 Exceeds Expectations with 50,000 Orders in 27 Minutes

Founder’s Edition Deliveries Underway

The demand for Xiaomi’s all-electric SU7 has surpassed expectations, with the tech giant receiving an impressive 50,000 orders for the electric sedan within just 27 minutes. Customer deliveries of the Founder’s Edition have already commenced, and Xiaomi is gearing up to hand over flagship SU7 Max models to owners this month.

Xiaomi’s Entry into the EV Market

While Xiaomi is a newcomer to the automotive industry, its status as a technology giant in China and one of the world’s leading smartphone manufacturers has given it a significant advantage in the EV space. During a livestream, Xiaomi’s chief executive Lei Jun revealed that the orders for their first car have exceeded expectations by 3 to 5 times.

Reasons for SU7’s Popularity

One of the key factors driving the popularity of the SU7 is its competitive pricing. Starting at just $29,900, the SU7 undercuts its competitors, including the Tesla Model 3. Xiaomi has already received 50,000 orders within minutes and has initiated deliveries. The company aims to update the car’s software over-the-air at least once a month to enhance user experience.

Future Plans and Expansion

Xiaomi is prepared to incur losses on each SU7 sold, with estimates suggesting a potential net loss of 4.1 billion yuan ($566 million) if 60,000 units are produced this year. Despite this, Xiaomi is already rumored to be working on an electric SUV, with reports indicating that development is underway on a new platform that supports a range-extender option.