The Xiaomi SU7 Ultra performance sedan has surpassed all expectations with over 23,000 units in locked-in orders, according to the company’s president, Lu Weibing. This marks a significant increase of approximately 13,000 units in locked-in orders within the last three months.
Back in March, Xiaomi’s founder, chairman, and CEO Lei Jun had announced that the firm orders for the SU7 Ultra had reached 19,000 units, with more than 10,000 locked-in orders. This achievement had already surpassed the company’s full-year target ahead of schedule. Lei had also mentioned that Xiaomi’s initial sales target for the SU7 Ultra in 2025 was set at 10,000 units.
The SU7 Ultra was officially launched on February 27, offering a performance sedan with 1,548 Ps of maximum horsepower based on the regular SU7 model. Priced at RMB 529,900 ($73,650), the SU7 Ultra comes at a premium compared to the regular SU7, with a starting price that is 2.5 times higher.
Despite its success, the SU7 Ultra has faced criticism in recent months, particularly regarding issues like the lack of ventilation in the front hood holes and limitations on the model’s power output. However, Xiaomi remains committed to the success of its electric vehicle lineup, including the SU7 Ultra and the newly introduced YU7 SUV.
The YU7 has generated significant interest from customers, surpassing the initial reception of the SU7 sedan. Reservation inquiries for the YU7 have exceeded those of the SU7 during the same period, with a threefold increase in customers paying deposits to reserve the SUV. Xiaomi is confident in the YU7’s potential and plans to showcase the full range of models, including the YU7, at the upcoming 2025 Shenzhen auto show.
In addition to the success of its EV business, Xiaomi’s innovative ventures, such as EV and AI, have posted a gross margin of 23.2 percent in the first quarter, up from 20.4 percent in the previous quarter. This demonstrates the company’s commitment to innovation and growth in the competitive electric vehicle market.
