Xiaomi, the Chinese tech giant, has made a bold move in the electric vehicle (EV) market by introducing a luxury version of its SU7 electric sports car. Priced at a hefty $114,000, the SU7 Ultra is positioned to compete directly with the likes of Tesla and Porsche, showcasing Xiaomi's ambition to dominate the high-performance EV segment.

Unleashing the Power of Luxury and Performance

Pushing the Boundaries of Electric Mobility

Xiaomi's SU7 Ultra is a testament to the company's commitment to innovation and technological advancement. Equipped with a carbon-fiber roof, performance ceramic brakes, and aerodynamic styling, this vehicle is designed to deliver an unparalleled driving experience. The prototype was unveiled in July this year, and the first deliveries are slated for March 2023, indicating Xiaomi's swift progress in bringing this luxury EV to market.

Challenging the Established Players

By pricing the SU7 Ultra alongside premium offerings such as the Tesla Model S Plaid, Xiaomi is signaling its intention to compete on performance rather than cost. Xiaomi CEO Lei Jun boldly stated that the SU7 Ultra is "the world's fastest four-door mass-produced car currently available," a claim that is backed by a comparison chart showcasing the vehicle's superior acceleration and top speed over the Porsche Taycan Turbo.

Xiaomi's Foray into the EV Landscape

Xiaomi's journey in the EV market began in March with the successful launch of the original SU7, a more affordable model that drew inspiration from Porsche's design language. The introduction of the SU7 Ultra reflects a broader trend among Chinese EV manufacturers to emulate Tesla's strategy of launching fast, technologically advanced vehicles in the market segment that is less sensitive to price competition.

Driving Demand and Delivery Targets

Xiaomi's ambitions for the SU7 lineup are evident in its delivery targets. The company aims to deliver 120,000 SU7 vehicles by the end of the year, and the demand for the SU7 Ultra has been strong, with over 3,600 orders received within ten minutes of its debut. This robust demand, coupled with Xiaomi's EV deliveries in China surpassing 10,000 vehicles per month since June and reaching over 20,000 in October, suggests that the company is well-positioned to make a significant impact in the EV market.

Xiaomi's Broader EV Strategy

Xiaomi's foray into the EV market is part of a broader strategy to diversify its product portfolio and capitalize on the growing demand for electric vehicles. In April, the company reported receiving over 70,000 orders for the SU7, reflecting the brand's growing presence and consumer trust in the EV space. By introducing the luxury SU7 Ultra, Xiaomi is demonstrating its ambition to challenge the established players and carve out a significant share of the high-performance EV market.