On March 30th, Xiaomi SU7 was hot, with 88,898 units pre-sold within 24 hours. Xiaomi SU7 offers three models: Standard Edition, Pro Edition, and Max Edition, with prices ranging from 215,900 CNY to 299,900 CNY. In addition, Xiaomi SU7 also provides 5000 Founder's Edition models, with the prices of the Standard Edition and Max Edition remaining unchanged.
Lei Jun, the founder and chairman of Xiaomi Group, said that Xiaomi SU7 is definitely sold at a loss, with each unit sold resulting in a loss. "The original price was 229,000 CNY, and the top-end version was originally priced at 350,000 CNY. But the price reduction by other car companies caught us off guard, so we decided to be sincere. The price of the Standard Edition is 30,000 CNY lower than Tesla Model 3, and the Max Edition is priced at 299,000 CNY," Lei Jun said.
Lei Jun admitted that they are losing money on each sale, but not participating would mean missing out on opportunities. Indeed, the Chinese car market was intense in 2023, and it's even more intense this year! In 2023, China produced 9.587 million new energy vehicles and sold 9.495 million. For latecomers like Xiaomi, the challenges are undoubtedly greater than imagined.
However, the deep price war in the Chinese car market is just beginning.
