The Xiaomi car, called SU7, will be sold at a price of 215,900 yuan ($30,408), which is 30,000 yuan cheaper than the starting price of the Tesla Model 3 in China. Xiaomi CEO Lei Jun noted that the company sells every car at a loss, but this step is part of a strategy to conquer the market.
The main advantages of the SU7 over the Model 3 include better technical characteristics in almost all respects, except for two aspects where Xiaomi recognizes the need for additional improvements over the next 3-5 years. In particular, the SU7 boasts a range of 700 kilometers on a single charge, which exceeds Tesla’s performance.
The company has already received more than 50,000 orders for SU7 in just 27 minutes after the launch of sales, which indicates a high interest in the new product. Deliveries are scheduled to begin by the end of April.
Xiaomi also introduced a number of accessories for the SU7, including a car refrigerator, a front window curtain, a smartphone holder, and announced support for Apple Car Play and integration with the iPad. This further expands the company’s device ecosystem, which includes phones, home appliances, and other products.
In a market where competition is becoming increasingly fierce, Xiaomi is entering the game with a strong position, offering a powerful electric car at an affordable price. This step could strengthen the company’s position not only in the electronics market but also in the electric vehicle segment, displacing American competitors.