The Xiaomi SU7 Ultra received 3,680 pre-orders 10 minutes after pre-sales began, as the company begins to show off its technological muscle in the EV space.
Chinese smartphone giant Xiaomi (HKG: 1810, OTCMKTS: XIACY) has unveiled the production version of its SU7 Ultra, as it begins to show off its tech muscle in the electric vehicle (EV) space.
Lei Jun, the company's founder, chairman, and CEO, announced today at a product launch event involving smartphones, smartwatches, TVs, and washing machines, that the powerful SU7 Ultra is now available for pre-sale in China at a price of RMB 814,900 ($114,200).
The official launch of the SU7 Ultra -- priced at nearly four times the regular SU7's RMB 215,900 starting price -- will be in March 2025.
Xiaomi is accepting pre-orders for the SU7 Ultra from customers starting immediately, with a deposit of RMB 10,000 and refundable at any time after the model's official release.
The model received 3,680 pre-orders 10 minutes after pre-sales began, Xiaomi's car-building arm Xiaomi EV announced on Weibo.
The SU7 Ultra, which Lei describes as Xiaomi's “Dream Car” for himself and more performance-seeking drivers, is the most powerful variant of the company's first EV model.
The SU7 electric sedan went on sale on March 28, offering three variants -- Standard, Pro, and Max -- with starting prices of RMB 215,900, RMB 245,900, and RMB 299,900, respectively.
The model has delivered over 20,000 units so far this month, the first time it has surpassed that mark, Xiaomi said at today's event.
Lei unveiled the SU7 Ultra prototype during his annual presentation on July 19, saying it was based on the SU7 and built for performance and the track.
Xiaomi took the SU7 Ultra prototype to Germany earlier this month in an attempt to challenge the famous Nürburgring track, but the original plan was delayed due to rain.
The SU7 Ultra prototype finally completed that challenge yesterday with a final lap time of 6 minutes and 46.874 seconds, making it the fastest four-door car on the track, Xiaomi said earlier today.
Xiaomi tuned the chassis system for the production SU7 Ultra at the Nürburgring and began validation testing on June 11, Lei said.
The model is built for the track and can be driven on the track without modifications, according to the company.
Xiaomi's tests showed that the SU7 Ultra production car's cooling system did not overheat after two laps at Nürburgring.
The production version of the SU7 Ultra is powered by three motors, including two Xiaomi V8s motors, each capable of delivering 578 horsepower, and a V6s motor that delivers 392 horsepower.
The powertrain delivers a combined power of up to 1,548 hp and enables the SU7 Ultra to sprint from 0 to 100 km/h in 1.98 seconds with a top speed of more than 350 km/h, making it the fastest four-door production car on the planet, according to Xiaomi.
The model can accelerate from 0 to 200 km/h in 5.85 seconds and from 0 to 400 km/h in 9.23 seconds.
Built on an 800 V high-voltage platform, the car supports a 5.2 C charging multiplier and can charge from 10 percent to 80 percent in 11 minutes.
The price of the production version of the SU7 Ultra seems to be largely in line with the expectations of some Wall Street analysts.
In a research note earlier this month, Goldman Sachs projected that Xiaomi's SU7 Ultra will sell about 4,000 units next year, with an average price of about RMB 800,000, contributing 5 percent of its EV revenue.
[Video] Xiaomi EV says SU7 Ultra prototype becomes fastest 4-door car at Nürburgring
($1 = RMB 7.1369)
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