- The SU7 Ultra will be launched on February 27 and is currently available for pre-order at about four times the regular SU7's price.
- Xiaomi's intention with the SU7 Ultra was to create a new luxury vehicle that belongs to this era, said its CEO.
Lei Jun, founder, chairman and CEO of Xiaomi (HKG: 1810, OTCMKTS: XIACY), expressed his confidence in the SU7 Ultra as the ultra-performance electric sedan is one day away from launch.
"The Ultra is a strong product, and our team is confident that we are 90 percent sure of our 10,000-unit annual sales target," Lei wrote on Weibo today.
Xiaomi's car-making arm, Xiaomi EV, announced on Monday that the SU7 Ultra will be launched on February 27, with an event set to begin at 7 pm Beijing time that day.
Xiaomi's sales target for the SU7 Ultra this year is 10,000 units, Lei said on February 5.
The SU7 Ultra, an ultra-performance variant built by Xiaomi based on the regular SU7 electric sedan, was unveiled on October 29 last year and went on pre-sales for RMB 814,900 ($112,330).
The SU7 Ultra garnered 3,680 pre-orders 10 minutes after the pre-sales began, Xiaomi EV announced on Weibo at the time.
Xiaomi decided to launch the SU7 Ultra with the intention of creating a new luxury car that belongs to this era, Lei said on Weibo today.
"Our goal is that it is comparable to Porsche in performance, Tesla in technology, and BBA in luxury," Lei said, with BBA referring to German luxury car brands Mercedes-Benz, BMW, and Audi.
Xiaomi launched the regular SU7, its first model, on March 28, 2024, at a starting price of RMB 215,900 yuan.
The SU7 delivered over 135,000 vehicles in the full year 2024 and has seen monthly deliveries of over 20,000 units in each of the last four months.
Xiaomi is targeting EV sales of 300,000 vehicles for the full year 2025, it previously said.
In addition to the SU7 and SU7 Ultra, Xiaomi is expected to launch the YU7 electric SUV (sport utility vehicle) in June or July.
($1 = RMB 7.2547)
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