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New Delhi. Xiaomi’s entry into the electric vehicle (EV) market has created a stir, with the company announcing 88,898 firm orders for its new SU7 model within just 24 hours of its launch. Eager customers for the test drive reached 59 shops in 29 cities of China, due to which all these places were packed. For booking, customers have to pay a deposit of 5,000 yuan (about 850 USD). The Xiaomi SU7 is being produced by state-owned Beijing Automotive Industry Holding Company (BAIC), which is also a major shareholder in Mercedes-Benz.
Xiaomi’s new production facility in Beijing was completed in June last year. The facility has an initial capacity of 150,000 vehicles annually, which is expected to double in its second phase. Despite not operating at full capacity yet, Xiaomi is expected to begin customer deliveries by the end of April.
Also read: EMPS 2024: Big announcement on electric vehicles, Modi government will provide assistance up to ₹ 50,000, scheme will start from April 1
The starting price of Xiaomi SU7 has been kept at 215,900 Yuan (about Rs 25.34 lakh), so it is an affordable option, being 30,000 Yuan (about Rs 3.46 lakh) less than the Tesla Model 3. The high-spec SU7 features all-wheel drive, dual motors and a powerful 495kW battery pack producing 663 hp. In this, customers will get a range of 800 kilometers.
Two major factors contributed to the initial success of SU7. First, the charismatic leadership of Xiaomi CEO Lei Jun, who has marketing acumen and insights gleaned from leading competitors in the industry. Second, the brand’s strong reputation and wide user base in China play an important role, with many households already familiar with Xiaomi’s ecosystem of products.
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Tag: auto news, car, Electric Car, Xiaomi
first published : April 1, 2024, 2:23 pm IST
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