Latest news with #XiaomiSU7Ultra
The Irish Sun
15-05-2025
- Automotive
- The Irish Sun
Luxury sports car brand ‘blames EVs for its struggles' – weeks after axing 4,000 jobs in desperate cost-cutting measure
A luxury carmaker is reportedly blaming EVs for the challenges it has been facing. Reporting of recent struggles comes as the 2 Sales in the US are impacted by higher tariffs and electrification strategy faults Credit: Getty 2 The Porsche Taycan was the first mass-produced electric car model from Porsche Credit: Getty Despite being considered among the world's most profitable automakers, Porsche has faced dropping sales, deep tariffs and stiff EV competition. Experts have linked this to the company's overly aggressive and inflexible electrification strategy. Porsche has had a goal of being 80 per cent electric worldwide by 2030, but analyst at Warburg Research Fabio Hölscher has said this target is at the heart of its problems. He told Read More Motors News As a result, Porsche cut 1,900 of its research and manufacturing jobs at German facilities in February. Their revenue goals for this year were also cut by €2 billion, with an additional 8,000 jobs at stake. Hölscher suggested with "a more flexible approach" with more plug-in hybrids and shared platforms like BMW, Porsche would have been able to better adjust to the rapidly shifting demand trends. However, first-quarter sales fell 42 per cent compared to the same period last year. Most read in Motors It also delayed the arrival of a wave of its new electric products, including Strong competition has been particularly seen in China against the German sports and luxury vehicle manufacturer. Porsche's stunning Turbo Taycan is sporty EV that goes zero to 60 in under three seconds This is because high horse-power EVs are surprisingly cheap, enabling electrification to see a surge in the Cars like the Xiaomi SU7 Ultra and Yangwayg U9 provide four-figure horsepower and active suspension tech, whilst being relatively affordable. For Vice President of Research Pedro Pacheco, Porsche's "biggest problem is China". Along with recent job cuts, the company has also seen a shake-up of its executive team. Former VW Group development boss Michael Steine became deputy chairman of Porsche's executive board and its finance and sales bosses were replaced at the end of February.
Hindustan Times
15-05-2025
- Automotive
- Hindustan Times
Porsche adjusts electrification strategy with job cuts and lower sales targets. Check details
Porsche had set an ambitious goal of transitioning to 80 per cent battery-electric vehicle (BEV) sales globally by 2030. Porsche had set an ambitious goal of transitioning to 80 per cent battery-electric vehicle (BEV) sales globally by 2030. (Bloomberg) Check Offers Porsche, with its tradition of sports and luxury performance cars, is being reshaped in the midst of the challenges of a global consumer marketplace and realignment of strategies. The automaker was confronted with an authentic consumer paradigm shift, heightened competition within the primary markets such as China, and a distinct set of challenges related to the rollout of its electrification so seriously that it has led to a maturity of its targeted goals on production and business with respect to the creation of new realities. The company had set an ambitious goal of transitioning to 80 per cent battery-electric vehicle (BEV) sales globally by 2030. This strategy, however, has encountered delays. As a result, the development timelines for several upcoming models—such as the electric replacements for the 718 Boxster and Cayman, as well as a three-row electric SUV—have been pushed back. Also Read : Watch: $240,000 Porsche 911 GT3 RS destroyed after burnout stunt ends in disaster As per analysts, the company's previous emphasis on a BEV-dominant scenario, with limited integration of plug-in hybrids or multi-energy platforms, constrained its resilience. Brands that embraced more flexible architectures, enabling either electric or internal combustion propulsion, were best placed to counter-varying EV demand. Features and market ynamics Sales performance has also been affected in major markets. In China, Porsche's first-quarter sales fell by 42 per cent from the same period a year ago. The Chinese electric vehicle market has grown very fast, with local manufacturers launching high-performance EVs at affordable prices. Models such as the Xiaomi SU7 Ultra and Yangwang U9 are providing sophisticated features like four-figure horsepower outputs and active suspension systems, putting pressure on traditional global brands. Also Read : Porsche 911 Spirit 70 unveiled at Shanghai Auto Show as homage to the '70s era In February 2025, Porsche disclosed the elimination of 1,900 positions in its research and production centers in Germany. The company attributed the move to a delayed ramp-up in its electromobility efforts. German publication Automobilwoche reported that the company has lowered its 2025 sales revenue target by approximately €2 billion (around $2.2 billion), and that up to 8,000 additional jobs could be affected depending on future developments. Specifications and internal developments As Porsche develops its product plan more precisely, the technical specifications of its next-generation EVs will most probably respond to competitive standards being established within global markets. As active chassis systems and high-output electric drive units become standard fare, particularly in China, Porsche's next-generation products must meet changing customer expectations and technical benchmarks. In response to current challenges, the company has also implemented changes in leadership. Michael Steiner, previously a senior development executive at Volkswagen Group, has been appointed deputy chairman of Porsche's executive board. Earlier in 2025, the automaker also announced changes to its finance and sales leadership. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date: 15 May 2025, 09:00 AM IST
Miami Herald
07-05-2025
- Automotive
- Miami Herald
Explosive Backlash, Xiaomi SU7 Owners Get Their Horsepower Back
Business Explosive Backlash, Xiaomi SU7 Owners Get Their Horsepower Back The joys of modern-day technology has its quirks Today's software-defined vehicles, such as those from EV brands like Tesla and Rivian and new models from mainstream brands like Audi, BMW, and Ford, benefit from a feature called over-the-air updates. This capability allows these cars to update remotely, much like an iPhone, which saves the owners of these vehicles a visit to a dealership for something as simple as a software update. But while these sorts of alterations are meant to fix issues and add more features to one's car, sometimes these updates do the opposite; which owners of the Xiaomi SU7 Ultra in China had to face very recently. Xiaomi SU7 Xiaomi Locking away the horsepower Xiaomi's SU7 has been a runaway hit for the company known for its consumer electronics. Its first foray into electric cars has been compared to Western contemporaries like the Porsche Taycan and Tesla Model S, and it has also gained fans that include Ford CEO Jim Farley. Following an October 2024 announcement, Xiaomi released the SU7 Ultra in February as a sub-$73,000, tri-motor, 1,526 horsepower high-performance electric vehicle capable of a 0-60 mph in less than two seconds and on-track performance comparable to Porsche's ~$210,000 Taycan Turbo GT. However, some owners who wanted in on the fun were disappointed following a software update, which has since been patched. According to a report by Car News China, owners whose cars were updated to version 1.7.0 of its proprietary in-car software were disappointed to learn that some of its performance capabilities had been restricted. This Xiaomi SU7 Ultra software update reduced the maximum amount of power from the car's tri-motor electric powertrain to about 888 hp, unless the driver could prove to Xiaomi that they could handle all 1,526 horsepower. In order to "unlock the stable," drivers would have had to beat a specific lap time on a racetrack approved by Xiaomi, which would be recorded and verified using the car's onboard telemetry. In addition, the update also gave SU7 Ultra owners a 60-second cooldown when they activated the car's launch control function-the feature that allows them to achieve the sub-two second zero-to-sixty mile per hour time. When the update was rolled out, Xiaomi defended its actions to "muzzle" the SU7 Ultra's power levels from its owners, saying that the restrictions were made with the driver's safety in mind. However, this caused a rift on online forums and Chinese social media between owners who felt duped and others who appreciated the manufacturer's safety concern. "The full 1548 horsepower output is designed for circuit use with appropriate tyres and preparation," Xiaomi told Car News China. "We want to ensure owners can enjoy this performance safely." Final thoughts Due to the response from owners, Xiaomi patched the restrictions in a subsequent update, noting that it appreciated the "passionate feedback" from their community and that the company "will ensure better transparency moving forward." Upon hearing about this story, I instantly thought about the above clip of YouTube streamer iShowSpeed, who sat shotgun and reacted to the Xiaomi SU7 Ultra's acceleration on city streets during a recent visit to China about a month ago. Seeing all that power in practice looks different when you actually see it. Though restricting power until owners can prove their worth at a racetrack has not been something that was popular, perhaps Xiaomi could take a leaf out of BMW's book. On its website, BMW states that every new BMW purchased in 2025 comes with something called the "BMW New Owner's Track Drive," which provides professional instruction for high performance driving on a closed course; which doesn't sound like a bad idea at all for Xiaomi to offer on their "approved courses." Copyright 2025 The Arena Group, Inc. All Rights Reserved. This story was originally published May 7, 2025 at 6:00 PM.
Express Tribune
25-03-2025
- Automotive
- Express Tribune
'Just $70k, that's it': IShowSpeed rides 1,526-HP Chinese EV Xiaomi SU7 Ultra, says it's faster than a Lambo
YouTube sensation IShowSpeed sent fans into a frenzy after riding in the newly released $70,000 Xiaomi SU7 Ultra — a high-performance electric vehicle boasting a jaw-dropping 1,526 horsepower and an acceleration of 0 to 60 mph in just 1.92 seconds. The influencer, known for his high-energy antics, didn't hold back during the ride, which many fans said felt like a real-life Fast & Furious sequel. One user joked, 'Throw IShowSpeed in any situation, he is bound to fill the room with the energy of a tornado.' IShowSpeed rode in the Xiaomi SU7 Ultra, which costs $70K with 1,526 horsepower and can go 0-60 in 1.92 seconds 😳 — FearBuck (@FearedBuck) March 24, 2025 The internet quickly erupted with memes and sarcastic reactions over Xiaomi's unexpected leap from smartphones to supercars. 'Xiaomi SU7 Ultra sounds like a damn smart phone,' one fan quipped on X (formerly Twitter), while another said, 'I thought Xiaomi only made WiFis.' still wont beat my civic — Is this thing on 🎤 (@Sam_king_88) March 24, 2025 Xiaomi SU7 Ultra sounds like a damn smart phone XD — RoundTripGCR.5mbK (@marianzera) March 24, 2025 As disbelief over the price kicked in, a now-viral comment summed up the mood: 'Just 70K, that's it?' Others echoed the sentiment with posts like, '0-60 in 1.92 seconds? Blink and it's gone,' and 'When did Xiaomi start making cars? Thought it was just phones & tablets.' 0-60 in 1.92 seconds? Blink and it's gone. 👀 — Soulbound TV (@Soulbound_TV) March 24, 2025 Xiaomi makes car too?? — UNIVERSAL FEEDS (@UNIVERSE_FEEDS) March 24, 2025 "Just 70K that's it" — toufik (@tbk396) March 24, 2025 Some users were stunned by the brand crossover, asking: 'Why am I getting ads for Xiaomi cars now?' Another added, 'The CEO at the Xiaomi water company watching the sales skyrocket today,' mixing humor with real surprise at the company's growing reach. The Xiaomi SU7 Ultra, which debuted at Mobile World Congress 2025, is making headlines for more than just its power. With sleek aesthetics, vibrant color options, and a cabin full of tech, the car was clearly designed to turn heads — and with IShowSpeed in the driver's seat, it's done exactly that. 'It seems Xiaomi didn't just make this car to be driven,' another post read. 'They designed it to turn heads and launch IShowSpeed into his typical over-the-top/scream-on-top-of-his-voice reaction.'
