Xiaomi SU7 to Launch Mar 28; Price Key

Xiaomi to Launch SU7 on March 28, Confirms Founder and CEO Lei Jun

Today, Xiaomi Group’s founder, chairman, and CEO Lei Jun announced on a social platform that the Xiaomi SU7 will be officially launched on March 28, marking the fulfillment of their “three-year promise.”

Xiaomi SU7

Image source: Weibo

On December 28, 2023, Xiaomi Group held a Xiaomi car technology conference in Beijing. Lei Jun elaborated on Xiaomi’s five core automotive technologies — electric drive, battery, large die-casting, intelligent driving, and smart cabin advantages during the nearly three-hour event. The highly anticipated first Xiaomi car model, the SU7, also made its debut to the public at the same event.

As a newcomer in the car manufacturing industry, Xiaomi’s entry into the market comes relatively late. The first generation of new entrants in the automotive industry has already experienced multiple rounds of market competition, with companies like NIO, Li Auto, XPeng, and Zeekr firmly establishing themselves with monthly sales exceeding 10,000 units. In 2023, the startup, Ideal Auto, surged ahead and sold 376,000 units throughout the year. As we enter 2024, the battlefield of new car manufacturers saw WJ Auto claiming the top spot for two consecutive months, posing a significant challenge for the annual sales crown. Meanwhile, once-prominent brands like WM Motor and Hozon have declined. Xiaomi’s entry into this competitive landscape raises expectations of potential disruptions.

Compared to other new car manufacturers and even traditional automotive brands, Xiaomi benefits from an unparalleled advantage in popularity. With its roots in the technology industry, Xiaomi is widely known for its success in the smartphone sector and has also established a strong presence in the home ecosystem, amassing a large following of enthusiastic fans.

Although the Xiaomi SU7 has yet to hit the market, speculations and rumors about its pricing have already begun circulating, indicating the keen interest in Xiaomi’s cars, especially regarding their pricing. Lei Jun joked during the conference, “Forget about 99,000 yuan, don’t even think about 149,900 yuan.” He reiterated, “The Xiaomi SU7 may indeed be a bit expensive, but please trust us, our pricing strategy is justified, and the actual experience will surely exceed expectations.”

However, it is undeniable that the ongoing price wars in the automotive industry are intensifying, with corporate discounts and expanded channel incentives becoming the norm. This competitive landscape poses challenges for Xiaomi’s pricing strategy as well.

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