The Chinese smartphone manufacturer-turned-carmaker has begun its EV conquest with a massive bang.
Raking in a whopping 50,000 orders in the first 30 minutes and closing the first 24 hours with a staggering figure of 88,898, the Xiaomi SU7 EV has taken the segment by storm. Putting across a serious challenge to market leader Tesla, the Chinese smartphone manufacturer seems to have hit the nail hard with its EV debut.
With a starting price of around $30,000, the new kid on the block is cheaper than the competing Tesla Model 3. That’s definitely going to be in the former’s favor as customers are exploring ways to transition to electric vehicles without having to part with a truckload of cash.
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The Chinese company, which holds a strong position in both smartphones and consumer appliances market, has also stated that it could take a while before customers start receiving their cars. The standard variant of the SU7 EV sedan may demand an 18-21-week waiting period. The flagship variant – SU7 Pro – on the other hand commands a longer timeframe of 27 to 30 weeks for delivery.
While that may sound a bit of a bummer to many, do note that at least the company has been upfront about the delay. Unlike Tesla, which announces unachievable timelines that eventually end up killing the mood for customers who eagerly shelled out huge sums as deposits.
Xiaomi, having deeper pockets and cash reserves, is also a good sign that they will move heaven and earth to meet the timeline. Yes, setting up a car sales and service network is a tough job and sometimes throwing money at the problem may not necessarily bring in the intended solution. However, we do have high hopes as far as the Xiaomi SU7 is concerned and if all goes well, it could be the breakout new car launch of 2024.
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The SU7’s arrival on the scene has prompted many Chinese EV manufacturers to offer significant discounts, tax breaks, and trade-in subsidies to draw in customers thronging to the new player. Meanwhile, Xiaomi also played its card by releasing two special versions called “Founder’s Edition” which came with gifts. The first batch of 5000 Founders Edition immediately got sold out and the company has plans to open up more slots soon.
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