You most likely know Xiaomi, the so-called Apple of China, as a smartphone manufacturer that offers a decent alternative to Samsung. You may also know their smart watches, robotic vacuum cleaners, and electric scooters. Good design, although often unoriginal, sold at a competitive price.
But did you know that he also sells cars? Xiaomi Auto only jumped into the crowded electric vehicle market in March 2024, but it already has a hit on its hands with the SU7. An electric sedan not unlike the Porsche Taycan, it attracted nearly 90,000 orders within 24 hours of going on sale, a statistic that will likely make it the fastest-selling car of all time.
In addition to flying out the gate, the SU7 also flies around the race track. An improved version, called SU7 Ultra and with more than 1,500 horsepower, it set a new Nurburgring lap record in November, beating the Rimac Nevera and Porsche Taycan Turbo GT by more than 15 seconds over the 12.9-mile course. Even more notable is that set the record of 6:46.9 on a wet track and with an apparent loss of power halfway through the race.
Photography: Xiaomi Press
Before we get carried away, it’s important to caveat this by saying that yes, smartphone maker Xiaomi set a spectacular lap time, but it did so using a stripped-down prototype that’s not street legal. It’s also worth noting how the Nio EP9, also an electric concept, was slightly faster in 2017, and the Volkswagen ID.R holds the all-time electric lap record, at 6:05.3.
Back to the street legal SU7. The car sold so well at launch that Xiaomi Auto has raised its delivery forecast to 2024 thrice since then, from an initial goal of 76,000 to 130,000 by mid-November.
According to Chinese auto industry expert Mark Rainford, that revised figure is “more than even XPeng managed to deliver in the year to September,” despite selling cars for the past six years and operating in multiple international markets. In November, Xiaomi also recorded a 30.5 percent increase in third-quarter revenue.
Even Ford Boss loves Xiaomi
But don’t just look at sales figures. Ford CEO Jim Farley recently admitted that not only did he drive a Xiaomi car in the US, but after six months he didn’t want to return it. Talking about the The Whole Electric Show Podcast In October, Farley said: “Everyone was talking about the Apple car. But the Xiaomi car, which now exists and is fantastic; They sell 10,000, 20,000 a month; They sell out for six months. “It is an industry giant and (comes from) a much stronger consumer brand than the car companies.”
“I don’t really like to talk about the competition,” Farley continued, “but I drive a Xiaomi. “We flew one from Shanghai to Chicago and I’ve been driving it for six months and I don’t want to give it up.”
Photography: Xiaomi Press
The Chinese EV market is incredibly crowded, but Xiaomi’s first entry stands out for its premium styling (even if it appears to borrow a bit from the Taycan) and low price. The SU7 starts at less than $30,000, putting it $4,000 below the Tesla Model 3 in China. Even the powerful SU7 Ultra appears to be good value for money, as a production version will cost around $112,500 when it goes on sale in March 2025.
With just one model in production, Xiaomi will already be looking to make the most of its own 20,000-car-per-month factory, a rarity among automotive startups, which typically prefer to outsource the huge expense of building cars to others in a bid. to sidestep the growing pains that Elon Musk once described as “production hell.”
There is no shortage of Chinese electric car companies lining up to take on Tesla. BYD has come closer in terms of direct sales, while, under new Chinese ownership, a resurgent MG has been successful in undercutting Tesla in the UK market. Of course, prohibitive tariffs mean that cars made in China aren’t viable, or even welcome, in the U.S., and remember, that includes vehicles made in China by brands from elsewhere, like the Mini Cooper and Aceman , and the Polestar 2, at least until UK and US production comes online.