HomeBusinessXiaomi Delivers First Batch...

Xiaomi Delivers First Batch of 100,000 Electric Vehicles: A Game-Changer in the EV Market

Free Subscribtion

In a significant move that is set to disrupt the electric vehicle (EV) market, Chinese smartphone maker Xiaomi has started delivering its first batch of electric vehicles, totaling over 100,000 orders. With an attention-grabbing price tag and the backing of its smartphone expertise, Xiaomi’s entry into the EV space is poised to make waves. This article delves into the details of Xiaomi’s foray into the EV market, the features of its electric vehicle, and the potential impact it may have on the industry.

China’s Xiaomi receives over 100,000 orders, begins deliveries of its first EV

Xiaomi’s Electric Vehicle: The SU7

Xiaomi’s first electric vehicle, named the SU7 (Speed Ultra 7), has already generated substantial interest from consumers. Priced under $30,000 for the base model, the SU7 is notably cheaper than Tesla’s Model 3 in China, making it an attractive option for cost-conscious buyers. The SU7 enters a crowded China EV market, but analysts believe that Xiaomi’s deeper pockets and expertise in smartphones give it an advantage, particularly in the area of smart dashboards, a feature highly valued by Chinese consumers.

Strong Demand and Initial Deliveries

The overwhelming response to Xiaomi’s electric vehicle is evident from the more than 100,000 orders received by the company. The first batch of deliveries comprises 5,000 cars, which Xiaomi has already produced and labeled as the “founders edition.” These initial deliveries mark the beginning of Xiaomi’s entry into the EV market and signal the company’s commitment to providing customers with an innovative and affordable electric vehicle option.

Potential Challenges and Analyst Predictions

While Xiaomi’s entry into the EV market has generated excitement, there are potential challenges that the company may face. The cut-throat EV price war and slowing demand in the world’s largest auto market could pose difficulties for newcomers. Additionally, some analysts predict that Xiaomi’s venture into the EV market could result in substantial losses for the company. Citi Research analysts estimate that, based on a projected volume of 60,000 units this year, the SU7 could generate a net loss of 4.1 billion yuan ($566.82 million), averaging around 68,000 yuan ($9,400.96) per car.

Xiaomi’s Advantage: Deeper Pockets and Smartphone Expertise

Despite the potential challenges, Xiaomi’s advantages set it apart from other EV startups. The company’s deeper pockets, derived from its success in the smartphone industry, provide a strong foundation for its entry into the EV market. Xiaomi’s smartphone expertise also gives it an edge, particularly in the development of smart dashboards, which are highly sought after by Chinese consumers. This combination of financial strength and technological know-how positions Xiaomi as a formidable player in the EV market.

Wait Times and Pre-Orders

As Xiaomi begins delivering its electric vehicles, potential buyers have been advised that they may face wait times of four to seven months due to the strong interest in the SU7. This extended wait time reflects the high demand for Xiaomi’s affordable electric vehicle. In the first 24 hours of sales, Xiaomi received an impressive 88,898 pre-orders for the SU7, further indicating the strong market demand for the company’s entry into the EV space.

- Advertisement -

Xiaomi’s Ambitious Vision for EVs

Xiaomi’s entry into the EV market is not just a business venture; it represents the ambitious vision of the company’s founder and CEO, Lei Jun. In 2021, Lei announced Xiaomi’s foray into the EV space, pledging to invest $10 billion in the auto business as the “last major entrepreneurship project” of his life. This commitment showcases Xiaomi’s dedication to the EV market and highlights the potential long-term impact the company may have in shaping the industry.

Impact on the EV Market and Competitors

Xiaomi’s entry into the EV market has already had a ripple effect on its competitors. Following the launch of the SU7, other Chinese EV brands with comparable models have announced price cuts and subsidies. The 200,000 to 300,000 yuan segment, where the SU7 falls, is expected to see a significant increase in competition, with approximately 240 EV models competing for sales. This surge in competition and the lower price point set by Xiaomi could lead to a reshaping of the EV market in China.

Xiaomi EV car

Conclusion: Xiaomi’s Bold Move in the EV Space

Xiaomi’s delivery of its first batch of over 100,000 electric vehicles marks a significant milestone in the company’s venture into the EV market. With an attention-grabbing price tag, backed by Xiaomi’s smartphone expertise and deeper pockets, the SU7 has the potential to disrupt the EV market in China. As Xiaomi continues its journey in the EV space, it remains to be seen how its affordable electric vehicle will fare against established competitors and how it will shape the future of the industry.

Disclaimer: The above article is an opinion piece and should not be taken as financial advice. The information presented in this article is based on publicly available sources and may not be completely accurate. Please do your own research and consult with a professional before making investment decisions.


Additional Information: Xiaomi’s entry into the EV market is a strategic move to diversify its business and tap into the growing demand for electric vehicles. The company aims to leverage its established brand and extensive distribution network to gain a competitive edge in the market. Xiaomi plans to expand its electric vehicle offerings in the future and has expressed interest in developing autonomous driving technology.

― ADVERTISEMENT ―

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Popular News

The Inside Scoop on the Secret WhatsApp Group of Silicon Valley CEOs

In the fast-paced world of Silicon Valley, where tech titans and...

Squid Game Season 2: The Challenge – A Dark and Troubling Reality Show

Netflix's hit series "Squid Game" took the world by storm, captivating...

Jung Kook and Jack Harlow Unveil Their Multidimensional Collaboration on “3D”

Jung Kook, a member of the global sensation BTS, and American...

― ADVERTISEMENT ―

Read Now

See the World Through an Animal’s Eyes: Unveiling the Colors of Nature

Have you ever wondered how animals perceive the vibrant world around them? The colors we see are just a fraction of the spectrum, but for many animals, the visual experience is entirely different. Through the incredible advancements in camera technology and open-source software, scientists have been able...

Tesla Dominates the Global Electric Vehicle Market in 2023

In a year marked by rapid growth and intense competition in the electric vehicle (EV) market, Tesla emerged as the undisputed leader, selling a record-breaking 1.8 million electric vehicles worldwide. This article delves into the key highlights of Tesla's performance in 2023, including its impressive delivery numbers,...

Kids and Screen Time: Understanding the Impact on Development

In today's digital age, it's no surprise that children are exposed to screens from an early age. Whether it's watching TV shows, playing video games, or using tablets, screens have become a ubiquitous part of kids' lives. However, recent research suggests that excessive screen time may have...

The Complete Sequence of the Y Chromosome: Unveiling the Mysteries of Male Genetics

The Y chromosome has long remained an enigma in the realm of genetics, with its complex structure and repetitive DNA sequences posing significant challenges to researchers. However, a groundbreaking achievement has recently been made by an international team of scientists from the Telomere-to-Telomere (T2T) Consortium. They have...

The New Beatles Song: How AI Revolutionized Music Creation

The Beatles, one of the most iconic bands in history, continue to captivate audiences even decades after their breakup. In a surprising turn of events, the band released a "new" song titled "Now and Then," featuring the late John Lennon's vocals. What makes this release particularly groundbreaking...

The Future of Humanity: Insights from the World’s Most Advanced Humanoid Robot

Imagine a future where robots coexist with humans, pushing the boundaries of technology and society. This may seem like a scene from a sci-fi movie, but it is becoming a reality with the advancements in robotics. One such groundbreaking creation is Ameca, the world's most advanced humanoid...

The Starbucks Fall Menu: Explained and Fan Reactions

It's that time of year again when Starbucks fans eagerly await the return of their favorite fall beverages and treats. However, this year, the absence of a beloved item has left many customers disappointed and curious. In this article, we will delve into the details of the...

Weight Loss Drugs in 2024: The Evolution of the Market

The year 2024 is expected to bring significant advancements in the field of weight loss treatments. In recent years, weight loss drugs have gained immense popularity, and this trend is likely to continue in the coming year. With the increasing demand, the market for weight loss drugs...

The Declining Birthrate in South Korea: Understanding the Factors Behind the Trend

The birth rate in South Korea has been steadily declining over the years, reaching alarming levels that pose significant challenges for the country's future. Despite various efforts by the government to encourage childbirth, women in South Korea are increasingly choosing to remain childless. In this article, we...

The Revolutionary Invention of a 14-Year-Old: Soap That Treats Skin Cancer

In a remarkable display of innovation and scientific prowess, 14-year-old Heman Bekele from Annandale, Virginia, has captured the title of "America's Top Young Scientist" by inventing a groundbreaking soap designed to treat skin cancer. This prestigious accolade, awarded by 3M and Discovery Education, recognizes Heman's exceptional contribution...

Dengue Fever: A Growing Global Health Concern

Dengue fever, a mosquito-borne viral infection, is becoming a significant public health threat worldwide. The disease, transmitted by the Aedes species of mosquitoes, has seen a surge in cases in both endemic regions and areas previously unaffected. With rising global temperatures and increased urbanization, the Aedes mosquito...

The New iPhone 15 Pro: Say Goodbye to Gold and Purple

Apple enthusiasts have been eagerly awaiting the release of the iPhone 15 Pro, and as the launch date draws nearer, more details are emerging about the upcoming device. One significant change that has been confirmed is the elimination of the gold finish option, a staple of previous...

Global News

Install
×