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Xiaomi's Demand for Electric Car Leads to Six-Month Wait

Shortly after Xiaomi, the Chinese tech giant and third-largest smartphone seller globally, unveiled its first electric vehicle (EV), the SU7, customers were informed of a potential six-month delivery delay.
Despite receiving nearly 89,000 pre-orders in a day, Xiaomi predicts a 27-week wait time for the SU7 Max. Xiaomi, entering the competitive EV market alongside leaders like Tesla and BYD, has priced the standard SU7 model at approximately $29,872, with the Max version at about $41,500. In comparison, Tesla's Model 3 starts at around $34,000 in China.

The SU7 boasts a range of 435 miles per charge, outperforming Tesla's Model 3. To boost its appeal, Xiaomi introduced a limited Founder's Edition with unique gifts, planning a second sale round.

Emphasizing connectivity, the SU7 will integrate with Xiaomi's range of devices, made in collaboration with state-owned BAIC Group. Despite global slowdowns in EV sales and competitive price cuts by rivals, Xiaomi is committed to investing around $10 billion in its EV venture over the next decade.
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