Xiaomi is boosting employee morale with a special discount program for their new electric car, the SU7. From March 28th to June 30th, 2024, regular Xiaomi staff can enjoy significantly reduced interest rates on car loans. The annualized rate dips as low as 1.6%, compared to the standard 3.0% offered to external customers. Additionally, employees can put down as little as 15% and stretch out the loan for up to 60 months. To snag this perk, employees simply need to order their SU7 through the Xiaomi Auto App and wait for a delivery expert to contact them regarding the financing application. There, they can select the exclusive “Employee 1.6%” plan and submit their application.
The employees can buy the car with annual interest rates as low as 1.6%
While Xiaomi employees get the sweetest deal, the company isn’t leaving regular customers out in the cold. Standard financing options are also available for external users purchasing any SU7 model before June 30th, 2024. These plans offer down payments ranging from 15% to 50% with corresponding loan terms of 12 to 60 months, all at a fixed annualized interest rate of 2.5%.
The Xiaomi SU7 seems to be a hit, generating significant interest with over 100,000 orders placed and over 40,000 locked in. It appears Xiaomi’s entry into the electric car market is off to a promising start. However, if the car has to be successful, it has to keep doing big numbers for a while, so we’ll see how the SU7 fares in the Chinese Market. Read more about the car variants and other features here.
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