On January 2nd, the topic of Xiaomi’s upcoming car, the Xiaomi SU7 with a price tag of 5 million yuan or less, quickly became a hot topic on Weibo.

Lei Jun posted on Weibo, asking, “Who can compete with the Xiaomi SU7 in the same segment?” In the comments section of this post, a netizen asked, “Without knowing the price, how can we determine who its competitors are? Lei Jun, please announce the price soon, as I want to buy a car for the Lunar New Year.”

In response to this comment, Lei Jun replied, “Is there any competitor under 500,000 yuan?”

On December 28th, at the Xiaomi Car Technology Conference, Lei Jun, the founder of Xiaomi Group, explained the performance of Xiaomi’s first sedan, the SU7. In his comparison, Xiaomi’s car showed performance indicators that were on par with Tesla Model S, including acceleration from 0 to 100 km/h, braking distance from 100 km/h to 0, and top speed.

Image Source: Screenshot from the live stream

Lei Jun confidently stated: “So, don’t expect a price of 99,000 yuan (referring to the Xiaomi SU7’s price). It’s impossible!” He further added, “Any car with such performance and specifications would cost over 400,000 yuan! So, forget about 149,000 yuan. Let’s give technology the respect it deserves!”

As of the Hong Kong stock market closing on January 2nd, Xiaomi Group’s stock price was 15.48 Hong Kong dollars, a decrease of 0.77%, with a market value of 388.14 billion Hong Kong dollars.

Source: Daily Economic News, based on Lei Jun’s Weibo and public information