How Xiaomi EV Car Sales and Specifications are Rivaling Tesla and BYD

Waqar Ahmad May 3, 2024

0 25 3 minutes read

How Xiaomi EV Car Sales and Specifications are Rivaling Tesla and BYD

Xiaomi EV Car is selling better than expected rivaling Tesla. The Chinese smartphone company is undercutting Tesla’s Model 3, while Xiaomi launched its Speed Ultra 7 (SU7) electric sedan. CEO Lei Jun of Xiaomi declared before that he would be selling each car at a loss, however, they have received more than 70,000 orders for their SU7 electric sedan.

The orders correspond to their yearly sales target for Xiaomi EV Car delivery, which is 100,000. The company estimated a gross profit margin of about 5% to 10%, but the performance of their auto business may increase. The company had heavily invested in the automaker business as the CEO aspired to become a top automaker.

Xiaomi released the SU7 in March. The price of their car is 40,000 less than Tesla’s Model 3.

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Xiaomi Electric Sudan SU7 Sales

Xiaomi is a smartphone company, making about 12% share of smartphones globally. According to Counterpoint, Xiaomi’s sales make it the third-largest phone-selling company in the world. Xiaomi EV car SU7 sales have been 3 to 5 times higher than expected, according to sources. The company has already begun delivering standard versions of SU7 to buyers. The tap hour live stream of the car had 34 million viewers on Douyin. Doujin is the Chinese version of TikTok, used in China.

Last year, Tesla China sold over 600,000 cars. The China Passenger Car Association confirmed the statistics. According to the data, Li Auto sold 376,000 cars while Nio sold over 160,000 cars last year.

Xiaomi Rivalling American Tesla and BYD

Xiaomi cars are rivaling the American Tesla Model 3 and BYD, with a minimum range of 700 km (435 miles). Tesla Model 3 has a minimum range of 576 km. SU7 has a feature, through which they are hoping to attract consumers. The core feature is the familiarity of the operating system with its laptops, phones, and other devices.

Xiaomi Car styling cues are inspired by Porsche. Moreover, the China EV has a price tag of $30,000, while the Tesla base model has a price tag of $34,000. The company had begun making deliveries from a limited batch of 5,000 cars. For early buyers, the 5,000 produced cars had additional items. The newly built cars were termed “Founder’s Edition,” while being delivered in Beijing and Shenzhen (standard version).

Xiaomi CEO stated that they will be focusing on SU7, and doesn’t have any development plans to build off-road vehicles. The company is going to invest $10 billion (£7.9 billion) in its automaker development business. The investment will not be sudden, rather the investment is going to be in the next 10 years.

What’s the Price of the Xiaomi EV Car SU7?

According to Chief Executive Lei Jun, the price of the SU7 will vary in standard and Max versions.

SU7 standard model has a price of about 215,900 yuan, about $29,872 or £23,663
The Max version Xiaomi SU7 would cost 299,900 yuan

In just 27 minutes, the company received over 50,000. After the launch of Chinese cars, there is a price war on the cars. Xiaomi has exceptionally decent sales growth globally. While globally, the sales of cars have slowed and turned the market into a mess.

Xiaomi EV Car SU7 Specs

LAUNCH
Announced (China market)	2023, December 28
Status	Available to order. Released 2024, March
Base price	215,900 yuan or $29,872

PERFORMANCE
Power	RWD 295 hp (220 kW)
Torque	295 lb-ft (400 Nm)
Acceleration	5.3 sec 0-62 mph
Max speed	130 mph (210 km/h)

BATTERY
Capacity	73.6 kWh total
Tech	Li-ion LFP battery (400V type)
Range	415 mi CLTC
Consumption
Recuperation	Yes
Heat pump	Yes
AC Charging	Type 2
DC Charging	CCS

BODY
Type	4-door sedan5 seats
Platform	Modena
Dimensions	196.7 x 77.3 x 57.3 (4997 x 1963 x 1455 mm)
Drag coef.	0.195 Cd
Wheelbase	118.1 in (3000 mm)
Clearance
Weight	EU: 4365 lb unladen
Suspension	Adaptive Air suspension
Wheels	R19, R20
Trunk	EU: 18.3 ft³
Frunk	3.7 ft³
Towing	Yes