Xiaomi enters China's luxury-car market with US$112,000 SU7 ‘Ultra' EV
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Presales for the four-door sedan,
first unveiled in April , started in October with a price of 814,900 yuan (US$112,000). The Ultra edition is equipped with Xiaomi's Hyper-Autonomous Driving (HAD) technology, a smart driving system unveiled in November, the company said.
Lei Jun, founder and CEO, said at a launch event on Thursday that Xiaomi received orders for 248,000 EVs in the first nine months of 2024, and delivered 135,000 vehicles during the same time.
The company also launched a smartphone, the Xiaomi 15 Ultra, on Thursday. The phone and the SU7 were the most 'high-end' products Xiaomi had produced and marked the beginning of a move to 'ultra-high-end' markets, Lei said on Chinese social-media platform Sina Weibo on Monday.
'The SU7 Ultra will redefine the standards of luxury cars,' Lei said, adding that earlier this month it beat a Porsche Taycan Turbo GT to become the fastest mass-produced four-door car to lap the Shanghai International Circuit.
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Xiaomi was 90 per cent certain that the SU7 Ultra would reach annual sales of 10,000 units, he said in another post on Wednesday.
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