Price starts at $29,900 in China
Xiaomi's Beijing plant has an annual production capacity of 150,000 vehicles in the first stage and will increase to 300,000 vehicles in the second stage. Given that production has not yet reached full capacity, Xiaomi will have eight months of full production in 2024, which means it will be able to produce about 100,000 cars, perhaps a little more if no significant problems arise.
The company received about 90,000 firm orders in the first 24 hours and has not posted any updates since then, but it is clear that the number of orders is already well over 100,000 units. If this is so, then all the cars that the company can produce this year have already been ordered.
Construction of the new Xiaomi plant began in April 2022 and was completed in June last year. Xiaomi applied for a license to sell the SU7 in November, and trial production at the factory began in December. According to the company, mass production of the SU7 has already begun, but not at full capacity, and deliveries to customers will begin by the end of April.
The price of Xiaomi SU7 starts at $29,900. According to Xiaomi CEO Lei Jun, the price was decided the night before the launch and the goal was to offer a car cheaper than the Tesla Model 3, which costs $34,600 in China.
Test drives of Xiaomi SU7 began on Friday in China in 59 stores in 29 cities of the country, the queues are simply huge. The deposit customers must make to purchase their vehicle is $850. But speculators resell this right for $14,000.
The second Xiaomi car is expected to resemble the Porsche Cayenne. The company has already stated that the goal is for Xiaomi to one day surpass Tesla.