Xiaomi SU7 Gets 88,898 Pre-Orders on Day 1, Sold Out for 2024

Xiaomi has announced on its Baidu social media page that it received a whopping 88,898 pre-orders for the just-launched SU7 EV within 24 hours. It took only 27 minutes to cross 50,000 pre-orders. Moreover, the entire 2024 production run of 120,000 units was subsequently reserved. The company began accepting non-refundable pre-bookings as well as expressions of interest that are refundable within seven days, on March 28, when the car went on display in 59 Xiaomi stores across 28 cities.

Interested buyers were able to pay RMB 5,000 (approximately Rs. 57,533) which was refundable, but locking in a choice for a specific configuration turns that into a firm commitment. Interestingly, CNEVPost notes that Chinese car manufacturers usually only count non-refundable pre-orders as indicators of true consumer interest, while Xiaomi appears to have counted both types. 

The Xiaomi SU7 was formally launched on March 28, with prices starting at RMB 215,900 (approximately Rs. 24,88,580) for the base variant and going up to RMB 299,900 (approximately Rs. 34,56,814) for the top-end SU7 Max. The SU7 Pro is positioned between these two, priced at RMB 245,900 (approximately Rs. 28,34,380). These prices are intentionally close to those of the Tesla Model 3 in China, with Xiaomi CEO Lei Jun having stated that the SU7 is an improvement over the popular entry-level Tesla model in over 90 percent of its specifications. For reference, the Tesla Model 3 starts at RMB 245,900 while the long-range dual-motor variant starts at RMB 285,900 in China. 

China EV market analyst Jason Yu posted photos of huge crowds at multiple Xiaomi showrooms across the country on X (formerly Twitter), as the SU7 went on display. Videos of the car’s features being demonstrated have also begun to appear, as people have begun taking the car for test drives. According to his sources, delivery times are currently 15-18 weeks for the standard variant and 22-25 weeks for the Max variant. He also stated that the familiar, stable Xiaomi brand was a motivating factor for people to commit to buying its first-ever vehicle, giving it an edge over newer brands in the Chinese EV market. Also, many of those who rushed to book an SU7 are loyal users of other Xiaomi products such as smartphones, laptops and appliances.

Xiaomi aims to be one of the world’s top five EV companies within 15 years. An SUV model is reportedly planned to be announced later in 2024, to complement the SU7 sedan. The car was shown off at this year’s MWC trade show in Barcelona, hinting that European markets might be next on the company’s roadmap, though the strong demand in its home country might mean that international expansion isn’t likely in the near future. There’s no word yet on when or if Xiaomi plans to launch the SU7 in India.

The base SU7 variant has a 73.6kWh battery, with a claimed range of up to 700km and  top speed of 210 kmph. It can accelerate from 0-100kmph in 5.28 seconds. The SU7 Pro has a rated range of 830km thanks to a larger 94.3kWh battery pack. The top-end SU7 Max features dual electric motors and all-wheel drive. Despite its even larger 101kWh battery, the range is still rated at 800km but its top speed is 265kmph and it can go from 0-100kmph in 2.78 seconds. 

Xiaomi also offers a choice of camera-only and radar-enhanced ADAS, which it calls Xiaomi Pilot, and is powered by Nvidia’s Drive Orin SoC. The car has a 16.1-inch central touchscreen and runs the company’s HyperOS, which is intended to unify its vehicles with its smartphones and other smart device offerings.