Xiaomi's Founder Lei Jun Announces Over 75,000 Orders for Sporty SU7 Electric Sedan

Xiomi’s order: During the first media day of the Beijing auto show, Xiaomi's founder Lei Jun revealed that the company has secured a remarkable 75,723 orders for its SU7 electric sedan as of April 24. This announcement marks a significant milestone for the Chinese smartphone giant's venture into the electric vehicle (EV) market. Lei Jun also outlined ambitious delivery goals, aiming to dispatch over 10,000 units of the SU7 in June alone.

Xiaomi's rapid success in capturing orders for the SU7 demonstrates strong consumer interest, with the company achieving this feat in less than a month since the sedan's late March launch. Notably, the locked-in orders signify buyers who have committed to non-refundable deposits, indicating a substantial level of commitment to the product.

Setting an aggressive target, Xiaomi aims to achieve more than 100,000 deliveries of the SU7 by the end of 2024. Lei Jun emphasized that the company's automotive endeavours will remain exclusively focused on the Chinese market for the next three years.

In a strategic move, Xiaomi expedited deliveries of both the standard and Max versions of the SU7 to April 18, a notable 12 days ahead of the original schedule. Additionally, the company plans to introduce Pro models and commence deliveries by the end of May, further diversifying its offerings in the EV segment.

The debut of the SU7, featuring design elements reminiscent of Porsche and competitive pricing relative to Tesla's Model 3, has intensified the ongoing EV price war in China. Following Xiaomi's entry into the market, rival automakers have responded with price reductions and subsidies for comparable models, indicating fierce competition in the world's largest auto market.

Despite the notable progress, Lei Jun acknowledged that Xiaomi's auto team, comprising 6,000 members, is insufficient to meet the company's ambitious goals. In a call for talent, he invited global professionals to join Xiaomi's automotive division, highlighting the company's commitment to expanding its presence in the car manufacturing sector.

With Reuters Inputs