Xiaomi, the tech giant known for its innovative smartphones and consumer electronics, has ventured into the electric vehicle (EV) market with its highly anticipated SU7 electric sedan.
However, the overwhelming demand for this sleek and stylish EV has left buyers facing a considerable wait for delivery.
Within the first 24 hours of opening pre-orders on Thursday, Xiaomi received a staggering 88,898 orders for its debut EV, signaling a robust appetite for the company’s raid into the automotive industry.
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- Xiaomi’s first electric vehicle, the SU7 sedan, received 88,898 pre-orders in just 24 hours.
- Buyers now face delivery delays of 4-7 months due to overwhelming demand.
- The SU7’s sleek design, drawing comparisons to Porsche models, has ignited a price war with rival EV makers.
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Xiaomi’s Electric Vehicle Frenzy: Soaring Demand Leads to Months-Long Delivery Delays
This remarkable response has led to prolonged delivery times, ranging from four to seven months, depending on the specific model and configuration.
According to checks conducted by Reuters on Xiaomi’s car app, the standard SU7 model, priced at a competitive 215,900 yuan ($29,870), could take 18 to 21 weeks for delivery.
Buyers opting for the SU7 Pro model can expect a similar wait time of 18 to 21 weeks, while those splurging on the top-of-the-line variant, priced at 299,900 yuan, might have to exercise patience for 27 to 30 weeks before taking delivery of their coveted electric sedan.
The SU7’s striking design, which has drawn comparisons to Porsche’s iconic Taycan and Panamera sports car models, has undoubtedly captured the attention of EV enthusiasts and automotive connoisseurs alike.
However, Xiaomi’s entry into the fiercely competitive Chinese auto market, where more than 40 brands vie for consumer attention, has ignited a fierce price war.
Rival automakers have responded with enticing discounts and incentives in a bid to stay competitive.
Huawei-backed Aito offered discounts of up to 20,000 yuan on its new M7 SUVs until the end of April, while Xpeng matched these incentives with subsidies of up to 20,000 yuan on its flagship electric SUV, the G9.
Furthermore, Chery announced tax breaks, trade-in subsidies, and cash discounts on some of its best-selling gasoline-powered vehicles.
While the market remains challenging for newcomers, analysts have noted that Xiaomi’s deep pockets and smartphone expertise give the company a distinct advantage, particularly in smart dashboards – a feature that Chinese consumers highly value.
To commemorate the launch of its EV and capitalize on the frenzy, Xiaomi released two special “Founder’s Edition” versions of the SU7, complete with complimentary gifts such as refrigerators.
The first 5,000 units of these exclusive models sold out immediately, prompting Xiaomi to open a second round of Founder’s Edition sales, though the number of units available remains undisclosed.
As Xiaomi navigates the competitive EV landscape, the overwhelming demand for its SU7 electric sedan is a testament to its ability to captivate consumers with innovative products and designs.
While buyers may have to exercise patience, the extended delivery times only emphasize the vehicle’s popularity and Xiaomi’s promising start in the electric vehicle revolution.
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