Home > News > Auto

Xiaomi's Debut in Automotive Industry: Lei Jun Unfazed by Price Wars

Zhi Han Fri, Mar 15 2024 09:33 AM EST

Lei Jun has officially announced that Xiaomi's first car, the SU7, will hit the market on March 28th, marking the culmination of 1000 days of hard work since they ventured into the automotive sector.

In his announcement, Lei Jun remarked, "This fulfills our three-year commitment. If you're seeking a car equipped with cutting-edge smart technology and superior driving experience, I believe the Xiaomi SU7 will be your top choice."

With just 16 days left until the official launch event, preparations for the Xiaomi SU7 are in full swing. On March 25th, 59 stores across 29 cities nationwide will open, hosting the first batch of preview events. Consumers who have registered for appointments will have the opportunity to participate.

According to conversations with Xiaomi car store managers, March 25th will exclusively feature static displays of the Xiaomi SU7, while on March 28th, the cars will be available for immediate delivery. Cars will be allocated for delivery based on the time of order placement, with test drives commencing on March 29th. 4e573f2c-310a-458d-9174-776e7e8cc7ba.png After much anticipation, the Xiaomi SU7 is finally set to make its official debut to the world.

Smart technology is at the core of Xiaomi SU7's appeal.

Online chatter about the key specs of the Xiaomi SU7 has been abundant, but the biggest suspense surrounding this "traffic car" is undoubtedly its price tag.

Though three years might seem short, the domestic automotive market has undergone tremendous changes. Last year, Tesla kicked off the year with price cuts, and this year, BYD's Glory Edition is leading the most intense price war in history.

In the direct competitive price range of the Xiaomi SU7, there is no shortage of formidable rivals, with several models from the Geely series posing a significant challenge, particularly in the electric vehicle segment. bb277a89-6aa4-422b-8e94-5077fd0565d9.png At the end of December 2023, Lei Jun just finished the tech launch event for Xiaomi SU7, marking a successful kick-off. However, at the same time, Geely's Galaxy E8 joined forces with FlymeAuto from Meizu, making a strong debut with an ecosystem of 800V tri-electric and in-car connectivity, all priced below 200,000 RMB.

On the other hand, the highly anticipated Jikexie 007 hit the market starting at 209,900 RMB, boasting top-notch technology, luxury, all-electric power, and sports car handling, directly competing against Xiaomi SU7.

But the real highlight came with the launch of the all-new Jikexie 001 this year, priced at 269,000 to 329,000 RMB, breaking the market with its size, tri-electric system, handling, luxurious interior, intelligent cockpit, and more. Within three days of its launch, orders soared past ten thousand. 2a6204cc-3de2-4f70-ae61-0d6234f908d5.png This is also emphasized by CEO Lei: "Xiaomi's car needs to offer something different, and the most important aspect of that is smart technology. I also believe that this is what everyone truly expects from Xiaomi and new energy vehicles."

The market competition is fierce, but Xiaomi isn't one to back down. Having gone through the life-and-death struggle of the smartphone industry, no one doubts its fighting spirit.

How much will it sell for? And when can we expect to see the car?

The price of the base and mid-range versions of Xiaomi SU7 is the point of greatest concern.

CEO Lei has emphasized multiple times: "The final price of Xiaomi SU7 cannot be 99,000 CNY, 149,000 CNY, or 199,000 CNY." 4cb235b6-8c85-4a0e-bdb1-8edbd5031de5.png The top-end version of Xiaomi's SU7 Max is expected to be priced around 300,000 CNY, which has become a widely accepted benchmark in people's minds.

Finally, Xiaomi officials have stated that the product will be available for immediate delivery upon its launch. s_686a5dd1f1ab42bbaa0668ce76f54215.jpg