Electric cars start their sales with a bang

Xiaomi is starting its venture into the electric car market. This difficult area to convince – even Apple has abandoned its Apple Car – does not fear the Chinese giant and its SU7. Just unveiled in China, Xiaomi’s first electric car is already there sold out For the year 2024. The firm announced that it had received nearly 90,000 firm orders (88,898 cars) within 24 hours of the launch. An interest that was confirmed over time, eventually exceeding 100,000 units.

The order book is already full

The Chinese manufacturer, which has organized everything in the automobile industry, finally received 120,000 firm orders in 36 hours for its rival Tesla. The first electric SU7 is manufactured by BAIC (Beijing Automotive Industry Holding Co) and the car will be assembled in Beijing. Xiaomi is expected to start production at full speed soon, with an annual production capacity of 150,000 units.

That will then increase to 300,000 vehicles per year to help Xiaomi meet its targets. The Chinese giant wants to become one of the top five manufacturers in the world in 15 to 20 years. It aims to ship more than 10 million vehicles per year from its factories by 2030. The first step is to deliver approximately 100,000 cars in the remaining eight months of 2024.

An important moment for the brand arriving in China with a very attractive price starting at 215,900 yuan (approx. 27,500 euros without tax). As a reminder, the base model comes with Pro and Max versions. The latter are more expensive, but they maintain aggressive pricing, to the extent that CEO Lei Jun admits that the car sells at a loss.

Besides its price, the SU7 has the advantage of being offered by a very well-known brand in China. Xiaomi is known worldwide for the value of its products, it has a certain trust among the Chinese people. An advantage to convince users to choose the Xiaomi SU7 over one of its competitors in the dominant Chinese electric car market. The solidity of the group is reassuring even in the face of the arrival of manufacturers still unknown to the general public. Xiaomi should not limit itself to the domestic market for long.

The brand took advantage of MWC 2024 to showcase its cars to Europeans. Xiaomi isn’t closing the door on a possible international career for the SU7. However, we have to wait a bit before we see Xiaomi cars on our roads. One thing is for sure, Xiaomi is not here to make up the numbers.

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