- Xiaomi will introduce the SU7 Ultra again when it launches the Xiaomi 15 Ultra phone at the end of this month.
- Xiaomi EV is showcasing the SU7 Ultra in 112 stores in 42 cities starting February 5.
Xiaomi (HKG: 1810, OTCMKTS: XIACY) seems to have an aggressive sales target for the SU7 Ultra, the ultra-performance variant of its first EV model, after the success of the regular SU7.
The SU7 Ultra has a sales target of 10,000 units this year, Xiaomi's founder, chairman, and CEO Lei Jun said today, according to a video he shared on his Red Note account.
China has just ended its week-long New Year's holiday, and today is the first working day of the Year of the Snake. Lei mentioned the target at an event where small incentives in red envelopes, or Hongbao, were handed out to employees to celebrate the start of the new year's work.
He told Xiaomi president Lu Weibing that he would receive a larger amount in a red envelope at the end of the year if the SU7 Ultra's sales target is met.
Lei also said on Red Note that he will "release" the SU7 Ultra when he launches the Xiaomi 15 Ultra phone at the end of this month.
It's not clear whether he'll be reintroducing the SU7 Ultra or officially launch the model at that time, as “release” (发布) is a vague term. He had previously said that the official launch of the SU7 Ultra would be in March.
Lei unveiled the SU7 Ultra at a wide-ranging product launch event on October 29 last year and announced that the model was up for pre-sales at a price of RMB 814,900 ($112,040).
The model received 3,680 pre-orders 10 minutes after the pre-sale began, Xiaomi's car-making arm Xiaomi EV announced on Weibo at the time.
The official launch of the SU7 Ultra would be in March 2025, Lei said at the event last October.
Yesterday, Xiaomi EV said it would begin showcasing the SU7 Ultra in 112 stores in 42 cities starting February 5.
The regular SU7 electric sedan is Xiaomi's first EV model, which went on sale on March 28, 2024. The model is offered in three variants -- Standard, Pro, and Max -- with starting prices of RMB 215,900, RMB 245,900, and RMB 299,900, respectively.
Xiaomi delivered more than 135,000 cars in 2024 and is targeting 300,000 units in 2025, Lei said in a live video on December 31.
Xiaomi previously built the SU7 Ultra prototype, which completed the challenge at the Nürburgring with a lap time of 6 minutes, 46. 874 seconds, making it the fastest four-door car on the track.
The production version of the SU7 Ultra entered the regulatory catalog of China's Ministry of Industry and Information Technology last November, allowing the core specifications to be revealed.
The SU7 Ultra measures 5,070/5,115 mm in length, 1,970 mm in width and 1,465 mm in height, with a wheelbase of 3,000 mm, according to its filing.
The dimensions are larger than the regular SU7 sedan, which measures 4,997 mm, 1,963 mm, 1,455/1,440 mm in length, width and height, and has a wheelbase of 3,000 mm.
The SU7 Ultra is powered by Li-ion ternary batteries supplied by CATL. The regular SU7 uses batteries from BYD (HKG: 1211, OTCMKTS: BYDDY) and CATL.
The motors are from Xiaomi itself, with peak power of 288 kW, 425 kW, and 425 kW for each of the three motors.
The Xiaomi SU7 Ultra is powered by a battery pack with a capacity of 93.7 kWh, and is capable of delivering a range of 520 kilometers, 555 kilometers, 600 kilometers, or 630 kilometers, according to another catalog announced by MIIT on December 4.
($1 = RMB 7.2732)
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