Xiaomi, known primarily as a smartphone manufacturer, has made a dramatic entry into the electric vehicle market with its SU7 sedan.
The car has quickly become a sensation in China, selling nearly 90,000 units within 24 hours of its launch in March 2024.
The SU7 stands out for its competitive pricing, starting under $30,000 in China. A high-performance Ultra version with over 1,500 horsepower is set to launch in March 2025 at around $112,500.
Ford CEO Jim Farley has praised the car, admitting to driving a Xiaomi vehicle for six months and being impressed by its quality.
The car’s success comes from its unique approach to technology integration, allowing users to control home devices directly from the vehicle.
Xiaomi has already increased its 2024 delivery forecast from 76,000 to 130,000 vehicles.
The company has also built its own 20,000-car-per-month factory, which is unusual for a new automotive brand.
The company plans to expand its lineup, with two new vehicles expected: an SUV called the MX11 in early 2025 and potentially an extended-range electric vehicle in 2026.
While the car cannot be sold in the US due to import restrictions, Xiaomi has made a significant impact in the Chinese electric vehicle market, challenging established automotive brands with its tech-forward approach.
