- The Xiaomi SU7 Ultra starts at RMB 529,900 ($72,930), a reduction of RMB 285,000, or 34.97 percent, from the previous pre-sales price.
- The Xiaomi SU7 Ultra secured over 6,900 orders within 10 minutes of opening for ordering.
Xiaomi (HKG: 1810, OTCMKTS: XIACY) has launched the SU7 Ultra to challenge Porsche in the luxury car market, following the huge success of its regular SU7 electric sedan.
The company officially rolled out the SU7 Ultra -- an ultra-performance variant of the SU7 -- at a launch event today, with a starting price of RMB 529,900 ($72,930).
The price is RMB 285,000, or 34.97 percent, lower than last October's pre-sale price of RMB 814,900. The regular SU7, which was launched on March 28, 2024, has a starting price of RMB 215,900.
Xiaomi is accepting orders for the SU7 Ultra starting at 10 pm Beijing time today with a deposit of RMB 20,000, and customers have a seven-day hesitation period during which they can get a refund at any time.
Customers who order the model on or before March 31 will be entitled to up to RMB 90,000 worth of benefits.
Sixteen minutes after ordering opened, Xiaomi EV announced on Weibo that the SU7 Ultra received over 6,900 orders in 10 minutes.
Similar to what was done when the regular SU7 was launched, Xiaomi has already produced a number of SU7 Ultra vehicles, and those interested can lock in their orders by paying a non-refundable deposit of RMB 40,000, with deliveries set to begin soon.
Xiaomi's goal is for the SU7 Ultra to rival the performance of a Porsche, the tech of a Tesla, and the luxury of German luxury car brands Mercedes-Benz, BMW, and Audi, the company's founder, chairman, and CEO, Lei Jun, said at today's launch event.
The SU7 Ultra is Xiaomi's new luxury car, the ultimate "Dream Car" for this era, Lei said. "What's past is past, what's today is today. A new wave has come in an era of dramatic landscape changes!"
Earlier this month, Xiaomi took the SU7 Ultra to four racing circuits and got the best track times at all four, and at one point received praise from Porsche.
The SU7 Ultra is a mid-to-large-sized all-electric sedan with a length, width and height of 5,070 mm, 1,970 mm and 1,465 mm respectively, and a wheelbase of 3,000 mm.
The dimensions are larger than those of 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 model is powered by three electric motors with a combined maximum power of 1,138 kW and maximum horsepower of 1,548 Ps, delivering up to 1,770 Nm of maximum torque.
The powertrain enables the SU7 Ultra to sprint from 0 to 100 km/h in 1.98 seconds and from 0 to 200 km/h in 6.09 seconds.
Xiaomi claimed that it is the fastest four-door production car on the planet and can be raced on the track without any modifications. The model supports a top speed of 350 kilometers per hour.
The SU7 Ultra is powered by a 93.7 kWh Li-ion ternary battery pack with a CLTC range of 630 kilometers.
The pack supports a charging multiplier of 5.2 C and can be charged from 10 percent to 80 percent in 11 minutes. It supports a peak discharge power of 1,330 kW.
On top of these specifications, Xiaomi is allowing buyers to pay an additional RMB 100,000 to add the Racing Package, which gives them upgrades including upgraded shock absorbers, tires, and high-performance brake pads.
Lei said that the SU7 Ultra equipped with this Racing Package rivals the Porsche Taycan Turbo GT, which starts at RMB 1.998 million in China.
Xiaomi will also offer a more capable, two-seater Nürburgring Limited Edition for the SU7 Ultra, starting at RMB 814,900.
The two-seat variant entered a regulatory filing catalog with China's Ministry of Industry and Information Technology (MIIT) earlier this month.
Both the limited edition and the racing package will be available after the SU7 Ultra completes its future challenges at the Nürburgring track.
A latecomer to the automotive industry, Xiaomi has had great success with the regular SU7 continuing to be popular after its launch at the end of March last year.
Customers who currently buy the SU7 still have to wait about 30 weeks, or seven months, for delivery, CnEVPost's monitoring shows.
By the end of 2024, the SU7 had accumulated more than 248,000 locked-in orders after only nine months on the market, Lei said today.
Xiaomi's sales target for the SU7 Ultra doesn't look high, with Lei calling for 10,000 units in 2025 earlier this month.
Yesterday, Lei said that the SU7 Ultra is a strong product and his team is 90 percent sure that it will be able to meet that 10,000-unit target.
Xiaomi's EV sales target for the full year 2025 is 300,000 vehicles, it said earlier.
The regular 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.
In addition to the SU7 and SU7 Ultra, Xiaomi is expected to launch the YU7 electric SUV (sport utility vehicle) in June or July.
Xiaomi SU7 gets over 248,000 locked-in orders in 9 months by end of 2024, CEO says
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