Xiaomi delivers first SU7 in China

Xiaomi has started deliveries of its first electric car. The first SU7s were handed over to selected owners at the factory in Beijing, while deliveries also started at Xiaomi branches in 28 Chinese cities.

Xiaomi only launched the SU7 last week and has since accepted binding orders for its first electric car. Interest in the almost five-metre-long saloon has been high: according to Xiaomi, it has already recorded more than 100,000 reservations with deposits and over 40,000 firm orders for the SU7.

At the start of sales, the carmaker announced that the Founders Edition – limited to 5,000 units – would be delivered in the Standard and Max versions from 3 April, before the regular versions would launch towards the end of the month (and the Pro version would follow at the end of May). However, with the high level of interest, new buyers already have little chance of receiving an SU7 in 2024. They can already expect delivery times of up to eight months. Chinese media report that Xiaomi has already contacted suppliers and hopes to ramp up production to 10,000 units per month but this has yet to be confirmed.

The SU7 in the standard version – i.e. with a 73.6 kWh LFP battery from BYD and 220 kW rear-wheel drive – is available from 215,900 yuan or around 27,600 euros. The SU7 Pro, which will be available from the end of May, also uses the 220 kW rear-wheel drive but in combination with a 94.3 kWh battery with NMC cells from CATL. That version starts at 245,900 yuan or 31,475 euros. The top model is the SU7 Max with a 495 kW all-wheel drive and a 101 kWh NMC battery from CATL. The all-wheel drive vehicle is available for 299,900 yuan (38,390 euros). The two CATL batteries are 800-volt systems, while the LFP battery from BYD operates at 400 volts.

Xiaomi manufactures the SU7 in its factory in Yizhuang, a suburb of the Chinese capital Beijing. According to previous information, the factory is designed for 200,000 units per year. Production is thus currently running well below the maximum, even if Xiaomi would increase production to 10,000 vehicles per month (or 120,000 units per year). Incidentally, the plans for the plant were presented in November 2021 – around six months after the technology group founded a subsidiary for the “Smart Electric Vehicle Business” to enter the EV business.

Interest in the SU7 has also influenced interest in Xiaomi shares: Xiaomi increased its stock market value by around 7.6 billion dollars to 55 billion dollars on the first day of trading after the car was unveiled last week, outperforming traditional car manufacturers such as General Motors and Ford.

cnevpost.com, carnewschina.com, aastock.com (deliveries and pre-orders), cnevpost.com (delivery times, production increase), reuters.com (stock market value)