The Xiaomi SU7, the first electric vehicle (EV) from Xiaomi Corporation, is said to be priced at approximately $50,350, according to Chinese media reports. This information comes from a source within a major insurance company, as reported by CnEVPost.
The highest variant of the Xiaomi SU7, equipped with a CATL lithium ternary battery, is expected to be priced at RMB 361,400 ($50,350) including insurance. The entire range of the vehicle is projected to be priced between RMB 250,000 ($35,230) and RMB 370,000. However, these pricing details are still awaiting official confirmation from Xiaomi.
Wang Hua, the head of Xiaomi’s PR division, stated on Weibo that some vehicles are currently being licensed for sales, delivery, and service procedures. He did not comment on the rumored pricing of the SU7.
Xiaomi unveiled the SU7 in late December, but did not disclose any pricing information at the time. For comparison, Tesla’s Model 3 sedan in China starts at RMB 245,900.
The entry of Xiaomi into the EV market is not surprising, as the company has been investing heavily in this sector. Xiaomi’s CEO, Lei Jun, has been working on creating a Xiaomi ecosystem of interconnected smart devices, and entering the EV market aligns with this broader plan. Xiaomi, known for its high-quality and reasonably priced smartphones, aims to replicate its success in the EV industry.
The market is eagerly awaiting the official launch and pricing announcement of the Xiaomi SU7, especially considering the positive outlook from analysts at Morgan Stanley regarding Xiaomi’s potential in the EV market.
In conclusion, Xiaomi’s foray into the EV industry with the SU7 reflects the company’s strategic move to expand its product offerings beyond smartphones. With its reputation for quality and affordability, Xiaomi aims to make a mark in the competitive EV market.
