Xiaomi, Previously Known Mainly for Its Smartphones, Celebrates a Notable Entry into the Automotive Market with the Launch of Its First Electric Car, the SU7. The Vehicle's End-of-2023 Launch in China Immediately Made Headlines and Generated Impressive Demand, Reflected in Long Waiting Times for Potential Buyers. The SU7's Price Significantly Undercuts That of Its Main Competitor, the Tesla Model 3, Further Boosting the Rush for the Vehicle. Thus, the Standard Version of the SU7 Costs 215,900 Yuan (approximately 27,760 Euros) in China, While the Model 3 Is Offered at a Price of 245,900 Yuan (approximately 31,620 Euros).

The high number of pre-orders, reaching around 90,000 within the first 24 hours of sales launch, highlights the great interest in the vehicle. Xiaomi's flexible ordering and refund policy also seems to strengthen customer confidence in the product, as there have been few cancellations so far. However, the market launch of the SU7 is experiencing delays, with buyers having to wait between 18 and 30 weeks for the delivery of their vehicle, depending on the model.

The technical specifications of the SU7, such as an output of 220 kW/300 hp, acceleration from 0 to 100 km/h in just 5.28 seconds, and a range of 668 kilometers according to the CLTC test cycle, position the vehicle as a serious competitor in the electric car market. However, it remains unclear if and when the SU7 will also be available in Europe and at what price.

Xiaomi's Launch of the SU7 Demonstrates the Growing Interest of Tech Companies in the Automotive Sector, Especially in the Area of Electric Mobility. The Strong Demand for the SU7 in China Could Be a Harbinger for the Vehicle's Potential in International Markets, Provided Xiaomi Succeeds in Scaling Production Capacities and Overcoming Logistic Challenges.