Xiaomi’s electric vehicle division, Xiaomi EV, has recently started deliveries of the SU7 Ultra, a high-performance electric sedan that has exceeded the company’s expectations in terms of orders. The SU7 Ultra, which boasts 1,548 Ps of maximum horsepower, was delivered to its first owners at the company’s car factory in Beijing, marking a significant milestone for Xiaomi in the EV market.
The SU7 Ultra comes with a starting price of RMB 529,900 ($72,750), which is significantly lower than the previously marketed pre-sales price of RMB 814,900. Despite the lower price point, the model has garnered a lot of interest, with firm orders reaching 19,000 units and locked-in orders exceeding 10,000 units. This success has allowed Xiaomi to achieve its full-year sales target ahead of schedule.
Lei Jun, founder, chairman, and CEO of Xiaomi, revealed that the original sales target for the SU7 Ultra was set at 10,000 units for 2025. This target was considered conservative, especially given Xiaomi’s strong brand presence in China. However, Lei explained that sales of sedans priced above RMB 500,000 totaled 121,000 units in China last year, prompting the company to approach the target cautiously.
Despite the conservative target, orders for the SU7 Ultra have far exceeded expectations, prompting discussions within Xiaomi about increasing production capacity to meet the growing demand. Lei emphasized that the company remains committed to delivering high-quality electric vehicles to its customers and providing them with a seamless purchasing experience.
Overall, the success of the SU7 Ultra reflects Xiaomi’s growing presence in the EV market and its ability to offer competitive products that appeal to consumers. With strong demand for the model and a proactive approach to production, Xiaomi is well-positioned to make a significant impact in the electric vehicle industry.
