Xiaomi’s 1st EV receives 88.8k pre-orders in 24-hour

Xiaomi’s debut electric sedan, the SU7, faces soaring demand with pre-orders exceeding 88,898 in just 24 hours, as customers may face wait times of four to seven months, Reuters reported on Monday.

The standard SU7 model, priced at 215,900 yuan ($29,870), has delivery times of 18-21 weeks, while the SU7 Pro model could take the same time.

The top-tier model, priced at 299,900 yuan, may take 27-30 weeks for delivery.

The SU7’s design has been compared to Porsche’s sports car models and is entering a competitive market with brands like Aito, Xpeng, and Chery offering discounts and subsidies on their electric vehicles.

Despite the tough competition, Xiaomi’s strong financial position and expertise in smartphones give it an advantage in the smart dashboard feature that Chinese consumers value.

Xiaomi also introduced special Founder’s Edition versions of the SU7 with exclusive gifts, like refrigerators, which sold out quickly.

A second round of Founder’s Edition sales has been launched, but the number of units available is not specified.