- The updated SU7 is said to see a price increase of RMB 20,000 ($2,840), positioning it to compete with the Tesla Model 3 at nearly identical pricing.
- SU7 deliveries declined significantly after YU7 was launched in June, with November shipments falling 45.93 percent year-on-year.
Xiaomi EV (HKG: 1810, OTCMKTS: XIACY), the electric vehicle (EV) unit of Xiaomi, is rumored to launch a facelifted version of its SU7 electric sedan in the second quarter of next year, updating its first model.
"The next-generation Xiaomi SU7 will hit the market in the second quarter next year with numerous upgrades and a price hike of RMB 20,000 ($2,840)," automotive blogger Han Lu wrote on Weibo today.
Han is one of China's most prominent car reviewers, boasting about 9 million followers on Weibo.
Xiaomi EV officially launched the SU7 electric sedan on March 28, 2024, positioning it as a competitor to Tesla's (NASDAQ: TSLA) Model 3.
The model currently starts at RMB 215,900, undercutting the Tesla Model 3's RMB 235,500 starting price by RMB 19,600.
If the latest rumor proves true, it would mean the Xiaomi SU7 will compete against the Tesla Model 3 at nearly identical starting prices next year.
SU7 deliveries were strong in the first half of this year, hitting a record monthly high of 29,244 units in March, according to data compiled by CnEVPost.
With the YU7 launching in late June, more deliveries shifted toward this SUV (sport utility vehicle) model.
In November, the SU7 delivered 12,520 units, down 45.93 percent year-on-year and down 16.49 percent month-on-month, according to data compiled by CnEVPost.
The YU7 delivered a record 33,729 units in November, a 0.20 percent increase from October.
Earlier this week, a local media outlet reported that Xiaomi EV would next launch three models -- the YU9 large SUV, YU7 GT sports SUV, and SU7 L sedan.
The YU9, internally codenamed "Kunlun," will be Xiaomi EV's first extended-range electric vehicle (EREV), according to a December 10 report by Sina Tech.
The SU7 L targets the executive luxury sedan segment, while the YU7 GT aims for ultimate performance, the report said.
($1 = RMB 7.0444)
