How much will Xiaomi’s first electric car cost? 12,000 euros as some suggest or 46,000 as the latest indiscretion suggests. But above all, why is there such a gap between the two estimates?
Will the automobile industry feel the shock that the smartphone industry experienced a few years ago with the arrival of Xiaomi? Indeed, in the early 2010s, the Chinese manufacturer attacked the European market with products like the Mi1, which allowed them to follow them in terms of performance while displaying, without reaching the most high-end smartphones of the time. Significantly lower price. Could this strategy, at the root of Xiaomi’s success in Europe, be applied to the automobile industry, the manufacturer’s new playground?
Indeed, after extensively documenting its product and showing its ambitions, Xiaomi unveiled its first electric car during MWC 2024, the SU7 (it was actually unveiled in China a few weeks ago). For a few hours we also got to know the official marketing date in China for the electric sedan. This is March 28, although the manufacturer specifies that its prospective customers will be able to try out the car from March 25. On the other hand, there is no official information regarding the pricing yet. However, the highly critical Chinese media Jimenez, citing inside sources, has estimated the first price, which could be between 32,000 and 48,000 euros.
Xiaomi is no longer an entry-level manufacturer
If the SU7 is actually displayed at this price level, the launch model is expected to be around 46,000 euros, there will be no shock wave to match the model that Xiaomi released in the smartphone market. And for good reason, the rival model and benchmark in the series, the Tesla Model 3, is sold in China for almost the same price, between 31,000 and 36,500 euros depending on the version.
Although this price may be surprising, it is logical. On the one hand, the SU7 is larger in size than the Tesla Model 3, measuring 5 meters in length and 1.92 meters in width. But it will also be more ambitious from a technical point of view. In this regard, who a few weeks ago was putting forward prices between 12,000 and 19,000 euros, the boss of the brand Lei Jun responded that it was necessary ” Show some respect for the technology behind the car », leaving little doubt that the final price will be higher.
Is Xiaomi a victim of its image?
If we look at the price evolution of Xiaomi smartphones, this accusation is not surprising. The Chinese manufacturer has just launched the all-new Xiaomi 14 at a price of 1,000 euros, which is hardly less than what the premium brands in the region, Apple and Samsung, charge. Xiaomi continues to make entry-level smartphones, especially with its Redmi and Poco brands, such as the excellent X6 Pro, but it has been several years since its most successful model, which bears the Xiaomi seal, has been sold.
Undoubtedly, Xiaomi is paying for its first years during which the manufacturer built a serious brand image, certainly, but at a low cost. If the reality is different today, this role is now being handed over to Redmi, the fact that Xiaomi is associated with lower prices for the general public.
What about SU7 in France?
Of course, these price estimates are for the Chinese market. For the moment Xiaomi has not hinted at a possible marketing outside of China, on the contrary. For Lei Jun, the SU7 “has to prove itself in the local market” first. This probably also explains why Xiaomi is less inclined to lower its prices.
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