Finally, Xiaomi's venture into the automobile industry is becoming a reality!
It's officially announced that the launch event will take place on March 28, which is the Thursday after next.
Moreover, the company emphasizes that "listing means delivery, and delivery means sales volume."
Just moments after the announcement, it's already dominating the hot searches on Weibo!
The stock price surged by over 8% in a matter of moments:
Hmm, let's put it this way: Xiaomi's been hyping up their car for ages, and we've been waiting forever.
Hey, Lei Jun, why not just drop the price bomb on us already?
After three whole years of Lei Jun working on his car venture, it's finally happening.
March 28th, mark your calendars folks, Xiaomi's hitting the stock market with its car debut.
For a solid 3 years (announced car-making at the end of March 2021), it's definitely no coincidence. Mr. Lei probably set the timetable on Day 1, and all the work has been backwards planned from there.
There's no room for error here because this is Mr. Lei's "betting his entire reputation," the final venture, the most crucial debut.
And it's happening under immense scrutiny from virtually all Xiaomi fans, all Chinese netizens, car users, as well as all competitors.
The official announcement has two key points worth noting. Firstly, Xiaomi pledges to deliver upon listing, meaning they'll start delivering as soon as they hit the market, which indicates a commitment to prompt delivery. Additionally, Lei Jun has hinted at a public test drive event starting on March 25th.
Secondly, Lei Jun promises that Xiaomi cars will feature "the most advanced intelligent technology and outstanding driving experience."
The first point indicates that the practices in manufacturing, logistics, and supply chain management that Ideal Cars has been implementing have now become industry norms and foundational capabilities for players in the smart car sector.
As for the second point, the emphasis on intelligence wasn't thoroughly discussed in previous tech showcases. Xiaomi intentionally saved it for the official launch, making it a major highlight and core competitive edge.
When it comes to driving experience, it's mostly subjective and hard to quantify. But it's safe to say that a Xiaomi car, which pays homage to Porsche in both interior and exterior design, is unlikely to be just an ordinary grocery getter, right?
On a side note, Xiaomi cars have been jokingly referred to as "Porsches Mi" for a reason, and the traces of it have been evident for quite some time now:
Additionally, there have been unconfirmed rumors circulating online:
It's rumored that pre-orders will be available immediately at the launch event, and orders can be confirmed on the spot. Also, it's said that there will be a 5-day consideration period after placing an order, during which the order can be canceled. After the 5-day period, orders will be automatically confirmed and cannot be canceled.
Given the hype around Xiaomi's cars, it's easy to predict that scalpers are already gearing up and getting ready.
But there's one condition: Xiaomi's cars need to be attractively priced. That's what most internet users are discussing under Lei Jun's official announcement on Weibo.
In the trending searches, the price of Xiaomi cars is even hotter than the release date.
Some jokingly speculate that on the March 28th release, "Is it going to be priced at 328,000 RMB?"
Some are still hoping to recreate the awe of 1999, but Mr. Lei has already dismissed that possibility.
Some people bluntly say, "Once the price goes over 200,000 CNY, this car is going to struggle."
There's still anticipation for upcoming SUV models, with expectations hovering around the $200,000 mark.
Certainly, there are also individuals who are very bullish on Xiaomi's automotive venture from an investment standpoint.
Basically, Xiaomi has kept the price of its cars under wraps for too long, and it has almost become the sole determining factor for whether Xiaomi's cars can become a hit in the market.
After all, the technology and design of the Su7 are public knowledge, but outside, there are fierce competitors like BYD Han, Galaxy E8, and Jike 007, who are closely watching Xiaomi and are ready to lower prices and add features.
The pricing and what to expect?
Here's what's known about the Xiaomi car so far:
It's positioned as a mid-to-large sedan, with dimensions of 4997/1963/1455mm (length/width/height) and a wheelbase of 3000mm, comparable to models like the Avita 12, ZhiJie S7, and Jike 001.
Powered by Xiaomi's jointly developed HyperEngine V6/V6s super motors, spinning at 21000rpm. The Max version features dual-motor all-wheel drive, producing a peak torque of 838N·m, equivalent to the performance of a 4.0L turbocharged engine, with a total power output of 495kW.
Equipped with Xiaomi's self-developed CTB integrated battery pack, featuring the world's first inverted battery cells sourced from BYD, ensuring safety. The CLTC standard range is 668km and 800km respectively, with the Max version boasting 800V super-fast charging, capable of adding 220km of range in just 5 minutes.
Comes with the Pangolin OS, seamlessly integrating with Xiaomi's ecosystem for home, car, and personal use, along with the self-developed Xiaomi Pilot intelligent driving system.
Additionally, there's been a leaked Xiaomi car insurance quotation circulating online, indicating an invoiced price of 260,000 RMB.
Certainly, the invoice price of insurance generally refers to the base price of the vehicle without any additional options included.
However, the specific pricing will definitely be announced at the end of the launch event, and 260,000 is just a reference point.
The focal points of the entire launch event are the integration of the Penglai OS ecosystem into the vehicle and home, as well as Xiaomi's in-house developed intelligent driving technology.
The Penglai OS ecosystem can be likened to Huawei's HarmonyOS, which has already been integrated into vehicles. It offers a rich application store, smooth user experience, and a UI design consistent with that of smartphones and tablets, making it easy for users to adapt with zero learning curve. Additionally, it seamlessly integrates with smartphone car systems, facilitates information exchange, and offers other functionalities.
However, Huawei's HarmonyOS is currently more geared towards a tablet-based approach for in-car systems. It lacks advanced customization options for vehicle functions and convenient in-car designs for drivers.
For instance, in terms of adjusting driving modes, splitting the screen for maps/apps, or voice-controlled car functions, the freedom is limited, with only a few options provided by Huawei that they deem necessary. Moreover, there's a significant level of homogenization across different car models from various brands.
I believe Xiaomi's Surge OS has the potential for a breakthrough.
On another note, their self-developed smart driving technology is promising. While it's hard to judge its capabilities solely based on demos, judging by the pace of internal competition this year, high-speed NOA (Navigate on Autopilot) will surely become a standard feature. As for urban NOA, it's likely to be rolled out by the latter half of the year at the latest.
Moreover, regardless of the backend technology used, they are aiming for nationwide road coverage and navigation without reliance on maps.
Regarding pricing, taking cues from Huawei, a monthly subscription for urban NOA would likely cost around 700 CNY, while purchasing it outright might be around 23,000 CNY.
Let's discuss what would be an appropriate price point.
If we go by the insurance price of 260,000 RMB, are you going to jump straight in for the Xiaomi SU7, or are you just going to sit back and watch?
