Xiaomi’s SU7 electric car line has achieved remarkable success, particularly with its Ultra variant. The SU7 model sees over 20,000 monthly deliveries, totaling over 180,000 units. Available in Standard, Pro, and Max versions, with prices ranging from approximately RMB 215,900 to RMB 299,900, the SU7 Ultra launched on February 27, 2024, boasting 1,548 horsepower and accelerating from 0 to 62 mph in 1.98 seconds. Priced at RMB 529,900, it received over 6,900 orders in the first 10 minutes. Demand surpassed expectations, with 19,000 orders, prompting a reevaluation of production plans and offering a 7-day refund for firm orders.
Xiaomi is experiencing outstanding success with its SU7 series of electric vehicles. The SU7 Ultra, a high-performance version of its leading sedan, has exceeded initial sales forecasts, while its more standard counterpart is consistently setting new sales and delivery records each month.
The SU7 has maintained an impressive delivery pace, with more than 20,000 units launched onto the roads each month for the last five months. This steady performance has brought total deliveries to over 180,000 units. The SU7 is available in three models: Standard, Pro, and Max. The Standard version is priced at around RMB 215,900 ($29,640), the Pro at RMB 245,900 ($33,800), and the Max at RMB 299,900 ($41,180).
The SU7 Ultra was introduced on February 27, 2024. This impressive vehicle features three electric motors for a total output of 1,548 horsepower. It can sprint from 0 to 62 mph in just 1.98 seconds, and from 0 to 124 mph in 6.09 seconds. Xiaomi boasts that this makes it the quickest four-door production car on the market.
Starting at RMB 529,900 ($72,750), the SU7 Ultra reflects a significant price decrease from its previously advertised pre-sale price of RMB 814,900 ($112,000). This adjustment appears to have successfully captivated buyers, leading to over 6,900 orders within the first 10 minutes of its debut.
Initially, Xiaomi aimed for a modest sales target of 10,000 units for the SU7 Ultra for 2025. However, the overwhelming interest has led the company to reassess its manufacturing strategy. According to Xiaomi founder Lei Jun, the Ultra received 15,000 orders within the first 24 hours of its launch, currently standing at 19,000 firm orders, with more than 10,000 confirmed locked-in orders. Given the current production output, the Ultra is effectively sold out for the next two years.
Lei Jun clarified that the original sales goal was influenced by the average annual sales of sedans priced above RMB 500,000 ($68,700) in China, which is around 121,000 units. In this light, the original target was not perceived as overly ambitious. The demand for the SU7 Ultra has vastly surpassed expectations, leading to talks about scaling up production capabilities.
To bolster consumer trust, Xiaomi EV is providing a 7-day hesitation period for those who place firm orders, allowing them to get a full refund on their RMB 20,000 deposit. However, deposits for locked-in orders are non-refundable.