The price of the Xiaomi SU7 has finally been revealed, ranging from 215.900 to 299.900 yuan. To be honest, the entry-level model’s price is not very surprising. However, the top-tier MAX version is quite impressive, and the most astonishing aspect is the volume of orders for the Xiaomi SU7. Within 4 minutes, there were 10.000 pre-orders, and within 27 minutes, there were 50.000 pre-orders, which is remarkable in the automotive industry.
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Is It Overpriced at 215.900 Yuan?
At the launch event, Lei Jun spent two full hours explaining the Xiaomi SU7 before revealing the price. This indicates the "difficulty" in pricing the Xiaomi SU7. Firstly, over the past six months since the technology launch of Xiaomi SU7. many comparable electric cars from major manufacturers have been released, such as the Zeekr 007. Galaxy E8. and Zhijie S7. Each has its own standout features, so it's normal for Xiaomi SU7 to feel some pressure. Secondly, the beginning of the year saw significant price cuts in domestic new energy vehicles, which was unexpected outside of Xiaomi’s marketing strategy.
Let’s look at the pricing. What are the selling points of the 215.900-yuan standard version? It features a front double-wishbone and rear five-link suspension, a 220kW motor, 0-100 km/h acceleration in around 5 seconds, a 3-meter wheelbase, and Xiaomi's powerful intelligent cockpit. At this price point, Xiaomi SU7 has everything that competitors offer. However, there is no 800V fast charging, and it uses BYD’s lithium iron phosphate battery. The most curious part is how the 73.6kWh battery can provide a 700km pure electric range (CLTC conditions).
The Pro Version: The Least Cost-Effective
Next up is the Pro version, which Tianya believes is the least cost-effective. Compared to the standard version, the core differences are:
1. The battery is upgraded to a larger capacity 94.3kWh battery from CATL.
2. It includes LiDAR and city NOA (Navigate on Autopilot) functions.
However, its price is 30.000 yuan more than the standard version. Spending 30.000 yuan more for these two features is clearly not worth it.
The crucial point is the nearly 250.000 yuan price. The Xiaomi SU7 Pro version lacks the 800V fast charging of the Zeekr 007 and the CDC variable suspension function of the Starlight ES. Therefore, it does not have strong competitiveness. This is evident from the delivery times of the various versions of the Xiaomi SU7; only the Pro version will be delivered at the end of May.
The High Cost-Performance of the Top MAX Version
However, the lower cost-effectiveness of the Pro version highlights the high cost-performance of the top MAX version.
The top version includes all the highlights Lei Jun previously mentioned: 800V fast charging, air suspension + CDC, 101kWh Kirin battery, electric suction doors, 56-inch AR-HUD, electric spoiler, Brembo four-piston calipers, plus a refrigerator, Nappa leather seats, and 25 speakers. Adding it all up, an extra 50.000 yuan is not expensive.
Of course, this also ties into Lei Jun's marketing abilities. Previously released information made consumers believe that the top version would far exceed 300.000 yuan, even reaching 360.000 yuan. So, when the official price was announced at 299.900 yuan, just under 300.000 yuan, it created a perception of being "really cheap."
Half an Hour and 50.000 Pre-Orders?
The official release reported 50.000 pre-orders, which looks very impressive on paper. However, selling cars is not the same as selling phones. Of the 50.000 pre-orders, apart from the 5.000 units of the Founder's Edition (with a non-refundable 20.000 yuan deposit), the remaining versions require only a 5.000 yuan deposit, which can be refunded within 7 days (unless locked). This means some impulsive orders might be canceled after a few days. Experienced consumers know that the initial order volume announced by car companies often differs significantly from final sales figures.
Xiaomi-Style Marketing
The clever part of Xiaomi’s marketing is the introduction of the Founder’s Edition. This ensures Xiaomi's survival by guaranteeing at least 5.000 sales. Besides the limited edition badge and carbon fiber mirrors, it has Lei Jun's signature, while the product power and price are consistent with the regular versions. Lei Jun even encouraged fans to place orders without hesitation during the launch, ensuring at least these 5.000 units are sold.
This strategy proved successful. In less than a minute, the 5.000 Founder’s Edition units were sold out. Tianya and three colleagues tried to order but failed, so they had to opt for the regular MAX version, which has a delivery time one month later than the Founder’s Edition.
Is It Worth Buying?
Is the Xiaomi SU7 worth buying?
As Xiaomi’s first foray into the automotive industry, it's important to remember that Xiaomi started as a phone manufacturer. Over the past decade, it has focused on mobile phones and smart home products, known for high cost-performance and a large fan base, with smart features being a highlight.
Therefore, the core selling point of the Xiaomi SU7 is also its intelligence, deeply integrating Xiaomi SU7 with Xiaomi phones, tablets, and various smart home appliances. The company claims "seamless connection between car and phone, and between car and home. You can prepare your car at home, control your home from the car, achieving full automation and an integrated ecosystem."
During the launch event, Lei Jun showcased over 20 Mi Home peripheral products, from phone holders, microphones, and sunshades to Xiaomi walkie-talkies, outdoor Bluetooth speakers, and even RGB ambient lights.
Lei Jun understands the aftermarket well, which will undoubtedly attract Xiaomi fans, Lei Jun’s loyal followers, and tech bloggers. For this group, whether it's to try something new or to support Xiaomi, buying the Xiaomi SU7 is worthwhile.
However, after the initial wave of enthusiastic orders, consumers will still scrutinize the product’s actual performance. As mentioned earlier, the Xiaomi SU7 faces significant pressure from other electric vehicles despite its initial success. Xiaomi’s traditional "cost-performance" advantage doesn’t seem prominent with the SU7. Whether it’s worth buying depends on what consumers value and their individual needs.
Conclusion
Returning to the initial question: is the Xiaomi SU7 overpriced?
Not really, and Lei Jun’s venture into car manufacturing has achieved things that many traditional and emerging car companies haven’t, such as hardware expandability and making cars more fun, as well as launching automotive peripherals. While most car companies are still at the PPT stage, Xiaomi Mall already has products available.
Whether the Xiaomi SU7 can maintain its high level of hype and traffic, ultimately converting it into sales, remains uncertain.
