Xiaomi, the Chinese tech giant, is set to revolutionize the electric vehicle (EV) market with its first offering, the SU7 performance sedan. Following the company’s entry into the automotive industry in March 2021 with a substantial RMB 10 billion yuan investment, Xiaomi is ready to kickstart mass production of the SU7 in mid-to-late February, with an expected monthly output of 2,000 units in March.
The SU7, positioned as a direct competitor to Tesla’s Model S, boasts impressive specifications, including acceleration in under 3 seconds and an 800V fast-charging architecture. Despite Xiaomi’s reputation for budget-friendly products, the SU7 is priced competitively in two trims: the SU7 RWD at $35,200 and the SU7 AWD at $55,000. The top trim, equipped with a high-nickel 101 kWh battery from CATL and a powerful 495kW (664 hp) output, is expected to exceed $50,000.
The vehicle is built on Xiaomi’s internally developed 800V electric vehicle architecture named Modena, incorporating the advanced Hyper OS for smart functions and connectivity. The SU7 includes self-driving functionality with input from high-resolution cameras, LiDAR, and ultrasonic sensors, showcasing Xiaomi’s commitment to cutting-edge technology in the automotive sector.
Despite the pricing ranging from $35,200 to over $50,000, Xiaomi justifies the cost by highlighting the inclusion of advanced features, high-performance components, and a novel Hypercasting manufacturing method. The company has invested a significant $10 billion in research and development expenses and employed a dedicated team of 3,400 engineers for the SU7’s development.
As Xiaomi faces the challenges of the Chinese New Year holiday, the company anticipates increased communication and adjustment costs. However, with nearly all research and development and validation testing completed before the Start of Production (SOP) stage, Xiaomi aims to overcome challenges efficiently. The SOP phase typically sees monthly production surpassing 2,000 vehicles, marking a crucial transition from R&D to the production department.
Xiaomi’s ambitious plans include completing capacity ramp-up by mid-2024, with monthly production expected to exceed 10,000 units in July 2024. Despite deviating from Xiaomi’s traditional midrange pricing, the SU7’s competitive positioning in the modern EV market reflects the company’s determination to make a significant impact in the automotive industry. Consumers and industry enthusiasts are eagerly waiting for the official launch date.
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