March 20th news, today, Xiaomi CEO Lei Jun commented on the "Tesla price increase on April 1st" and once again responded to the pricing of the Xiaomi SU7.
Lei Jun said that Tesla is awesome, and he sincerely admires them. In the current electric vehicle market, the competition is so fierce, and only Tesla dares to raise prices. Currently, except for Tesla, many pure electric vehicle companies are making huge losses.
Lei Jun also mentioned Tesla's financial report data last year, indicating that its sales reached 1.81 million units, almost entirely Model 3/Y, with a total revenue of $96.77 billion and an operating profit of $8.89 billion.
Tesla, despite its massive scale and operational efficiency, only has a 9.2% profit margin. For example, the Model 3 is currently priced at $245,900, but according to financial statements, it would need to be priced at $223,000 to break even.
Regarding the pricing of the Xiaomi SU7, Lei Jun said that the standard version is far superior to the Model 3 in terms of materials and components, and that the initial procurement costs were also very high.
Due to this, the pricing is facing some pressure, but he hopes that everyone can understand.
"No matter what, we will make sure that everyone feels they're getting value for money!" Lei Jun emphasized.
