- The SU7 Ultra starts at RMB 529,900 ($72,930), which is 34.97 percent lower than Xiaomi's previously marketed pre-sale price.
- The first vehicle deliveries of the Xiaomi SU7 Ultra are expected to begin in March.
Xiaomi's (HKG: 1810, OTCMKTS: XIACY) SU7 Ultra ultra-performance electric sedan reached its full-year sales target within 2 hours of going on sale, once again demonstrating the company's marketing prowess.
"2 hours into sales, firm orders over 10,000 units, reaching a key goal, thanks to everyone!" Xiaomi's car-making arm Xiaomi EV announced on Weibo early this morning Beijing time.
Xiaomi officially launched the SU7 Ultra, the company's electric sedan with 1,548 Ps of maximum horsepower based on the regular SU7, at an event last night to challenge Porsche in the luxury car segment.
The SU7 Ultra can sprint from 0 to 100 kilometers per hour in 1.98 seconds and from 0 to 200 kilometers per hour in 6.09 seconds, and Xiaomi claimed it is the fastest four-door production car on the planet.
The model starts at RMB 529,900 ($72,730), which is RMB 285,000, or 34.97 percent, below Xiaomi's previously marketed pre-sales price of RMB 814,900.
That price drop is even enough to cover the cost of a regular version of the SU7, a sedan that was launched on March 28, 2024 with a starting price of RMB 215,900 yuan.
Xiaomi started accepting orders for the SU7 Ultra with a deposit of RMB 20,000 from 10 pm Beijing time yesterday. Customers have a 7-day hesitation period during which they can get a refund at any time.
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 to get quick delivery.
Sixteen minutes after ordering opened, Xiaomi EV announced on Weibo that the SU7 Ultra received over 6,900 orders in 10 minutes.
Information from Xiaomi EV's mobile app indicates that it expects to begin the first deliveries of SU7 Ultra vehicles in March.
Xiaomi founder, chairman and CEO Lei Jun said earlier this month that the company's sales target for the SU7 Ultra in 2025 was 10,000 units, which was seen as conservative.
On February 26, Lei said that the SU7 Ultra is a strong product and that 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 previously said.
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.
($1 = RMB 7.2862)
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