Xiaomi's SU7 sedan model to feature relatively high price: Lei Jun

Beijing (Gasgoo)- Ever since Xiaomi's SU7 vehicle model received regulatory approval from China’s Ministry of Industry and Information Technology, the industry and enthusiasts have been speculating about its price. 

Photo credit: MIIT

Some anticipate it to be within the range of 200,000 yuan to 300,000 yuan, referencing current mainstream new car prices. Others draw comparisons to Xiaomi's smartphone pricing strategy, suggesting a starting price below 200,000 yuan — specifically at 199,900 yuan. The rationale behind this speculation revolves around market competitiveness against brands like XPeng, AITO, etc., emphasizing the significance of an appealing price point for Xiaomi's debut in the automotive arena.

Concerns have surfaced about Xiaomi's ability to compete in the 200,000-yuan auto market, a segment already crowded with robust offerings. Delays in the SU7's delivery could potentially cost Xiaomi its market advantage. 

Attempting to address online rumors and manage expectations, Lei Jun, Xiaomi's CEO, responded on December 26 to queries about the upcoming Xiaomi Automotive Technology Conference. He disclosed that the SU7 is currently in the trial production phase, needing several more months before its official market launch. Despite indications of a relatively high price, Lei Jun emphasized it's justified by the unparalleled experience it will offer.

He clarified that SU7 doesn't directly benchmark any existing vehicles but aims for driving mechanics akin to the Porsche Taycan Turbo and smart features comparable to the Tesla Model S. The nomenclature "SU7" stands for Speed Ultra, reflecting Xiaomi's aspirations for high performance.

Lei Jun's recent Weibo post teased the Xiaomi Automotive Technology Conference scheduled for December 28, reflecting on the journey from the smartphone giant’s announcement to make cars to finding like-minded individuals and crafting an exceptional vehicle. 

Xiaomi has spent 31 months since announcing its foray into automotive manufacturing field in March 2021, with plans for the first car's mass production and market launch slated for the first half of 2024.