Xiaomi’s Final Stand: All Prices Are False Rumors

Recently, an image displaying pricing and configurations for Xiaomi’s car model known as the SU7 began circulating online. The image suggests that the high-performance, eco-friendly C-class sedan is available for preorder, with the starting price for the SU7 Youth Edition at 229,999 Yuan, the SU7 Smart Drive Youth Edition at 259,999 Yuan, the SU7 Eco-tech Edition at 29,999 Yuan, and the SU7 High Performance Edition at 359,999 Yuan.

However, these figures have been disputed by Wang Hua. He has categorically dispelled rumors about the price of Xiaomi’s cars stating, “Until the official product launch of Xiaomi cars, all information and posters bearing versions and prices of Xiaomi cars are false! No price or policy can exist before official launch. Don’t believe in so-called insider rumors. No one knows the real price or even the official launch time; it’s all uncertain. How to determine if the pricing poster you see is real or not? Very simple: check if the Official Xiaomi car account or I have posted it. “

Although the Xiaomi SU7 was officially unveiled on December 28 at Xiaomi’s Technology Day, the company did not reveal its price. As the CEO of Xiaomi, Lei Jun, assured the audience at the launch event, the Xiaomi car has performance indicators comparable to the Tesla’s Model S, with its 0-100km/h acceleration, braking distance from 100km/h to 0, and maximum speed all up to par. As for the overall pricing, he stated, “Any car with similar features and performance would cost upwards of 400,000 Yuan. So, don’t even consider a price of 99,999 Yuan, it’s impossible!”

Subsequently, he also shared that the SU7 might indeed be pricey, but there would be good reasons for it. He further enticed the audience saying that the product promises to exceed expectations.

With its scheduled market launch in the first half of 2024, the Xiaomi SU7 positions itself as a high-end choice. It’s a large, pure electric sedan with a length, width, and height of 4997/1963/1440mm, respectively, and a wheelbase of 3000mm. Some of its appealing technological features include the Xiaomi V6/V6s motor, developed jointly with United Electronics and Huichuan, reaching a maximum speed of up to 21000RPM. It also boasts technologically advanced features such as an integrated battery cell vehicle, a 101-degree battery pack researched and developed based on CATL, and an 800V voltage platform (871V silicon carbide high voltage platform).

Despite its high end positioning, the Xiaomi SU7 faces intense competition from rivals such as the Huawei Smart Selection S7, Jike 007, Galaxy E8, XPENG P7, and the Tesla Model 3. Notably, the recently updated Tesla Model 3 presents a daunting challenge for the SU7 with its strong brand allure. This factor, coupled with the substantive tech support behind the Huawei Smart Selection S7, could significantly affect the market performance of the Xiaomi SU7.

Amidst the stringent competition, Xiaomi’s ability to offer competitive pricing will be critical in drawing potential buyers. However, even if the SU7’s price turns out to be on the higher end, the considerable fan base of Xiaomi might still provide enough support to sustain its sales. Nevertheless, understanding the market and pricing it right for future growth should be a significant consideration for Xiaomi.

At the launch event, Lei Jun reiterated his commitment to Xiaomi’s automotive venture, stating that it’s his last attempt at entrepreneurship, even betting his entire fortune on it. Despite past issues faced by Huawei when it entered into partnership with Cyrus, they now have a reasonably recognized car brand. As a newcomer to the automotive industry, Lei Jun too might have to pay his dues. He is undoubtedly determined and sincere about making his mark in the car-building industry.

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