[Report] Store Bustling with Customers for Xiaomi Electric Car Debut in China... "Price Is Key to Purchase"

"In terms of performance, it seems much superior to the Model 3 (Tesla) or P7 (Xiaopeng). As for whether I will buy it? The price is 100% the key factor."

On the morning of the 25th, at the Xiaomi store inside the Heshenghui Shopping Center in Chaoyang District, Beijing, China. Although it was an early weekday morning, dozens of people flooded into the store as soon as the mall opened. This was to see the electric vehicle SU7, which Xiaomi is unveiling to the public for the first time at 60 offline stores across 29 cities nationwide. Not only general visitors interested in vehicles but also local Chinese automotive media and wanghong (influencers) kept coming, making the scene very crowded. By the 27th, the number of people who reserved visits to see the vehicle in advance at this single store reached 3,000.

The vehicles were moved to each site the day before for display, but test drives and rides will only be possible after the official launch on the 28th. Until the launch date, only the exterior can be viewed, and opening the doors or sitting inside the vehicle was not allowed. The rumored selling price, estimated between 200,000 and 300,000 yuan (approximately 37 million to 55 million KRW), will also be officially announced on the launch day.

On the morning of the 25th, an employee at the Xiaomi store inside the Heshenghui Shopping Center in Chaoyang District, Beijing, China, is explaining vehicle information to visitors. (Photo by Kim Hyun-jung)

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On the morning of the 25th, visitors are inspecting vehicles at the Xiaomi store inside the Heshenghui Shopping Center in Chaoyang District, Beijing, China. (Photo by Kim Hyunjung)

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The age range of visitors to the store varied from their 20s to late 50s. Many of them identified themselves as 'Mi Fans (米粉, Xiaomi fans)' and said they would consider purchasing the SU7 if the price is not too high. A man in his 50s said, "I currently drive another electric vehicle, but if it is in the 200,000 yuan range, I would be willing to buy the new SU7." He added, "I have been a long-time Mi Fan, and after seeing it with my own eyes, the design is very sophisticated, and the performance is superior compared to existing electric vehicles."

Two men in their 20s, who were closely examining the body, also introduced themselves as Mi Fans. They said, "We are thinking of buying the SU7 as our first car, so we came to see it as soon as it was unveiled." When asked why they chose Xiaomi's electric vehicle instead of Tesla, which is popular among young people, they said, "Isn't it domestic?" They further explained, "One big advantage is that it connects with existing Xiaomi devices like Xiaomi phones. Most of the home appliances are already Xiaomi, and we are very satisfied."

On the morning of the 25th, visitors are inspecting vehicles at the Xiaomi store inside the Heshenghui Shopping Center in Chaoyang District, Beijing, China. (Photo by Kim Hyunjung)

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A woman in her 30s asked the staff about the specific price as soon as she entered the store. The staff replied, "It has not been disclosed yet," and only said, "Please pay attention to the official launch on the 28th." When asked if the media reports of the price being between 200,000 and 300,000 yuan were correct, the staff said, "We have not received detailed information yet," but hinted, "It will probably be around that range." When asked for her evaluation of the vehicle, the woman said, "It looks like the specs are much better than the Model 3 or P7 (Xiaopeng's electric sedan)," but added that her decision to purchase would be "100%" dependent on the price.

Xiaomi staff confidently claimed that the performance is 'the best in its class.' A guide who had already test-driven the vehicle said, "It feels solid like German cars," and emphasized, "The ride comfort in the front passenger and rear seats is also stable."

According to the on-site explanation, the SU7 adopts a dual-motor quattro drive system, and the power unit offers battery options of 101 kilowatt-hours (kWh) and 73.6 kWh capacity. The maximum driving range when fully charged is up to 800 km (700 km for the base model). Other specs include a top speed of 265 km/h, 0-100 km/h acceleration in 2.78 seconds, braking distance of 33.3 meters, maximum power of 673 horsepower (PS), and maximum torque of 838 Nm.

On the morning of the 25th, the SU7 displayed at the Xiaomi store inside the Heshenghui Shopping Center in Chaoyang District, Beijing, China. (Photo by Kim Hyunjung)

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The body measures 4,997 mm in length, 1,963 mm in width, 1,455 mm in height, and has a wheelbase of 3,000 mm, surpassing major new models such as Huawei's S7, developed in collaboration with Chery, and Geely Automobile's Krypton 007. As already known, the side has a coupe-style design, door handles are semi-hidden, and the front and rear fender panels protrude to create a refreshing visual effect. It supports Level 2 autonomous driving capable of steering, acceleration, deceleration, and maintaining lane distance, equipped with 12 cameras on the front, rear, and sides, 12 sensors, 3 millimeter-wave radars, and LiDAR sensors.

At the store visited by the reporter, the Gulf Blue color shown at the previous launch event was displayed first, but Xiaomi also introduced three additional colors?Ash Gray, Olive Green, and Violet?at other stores nationwide, including Shanghai and Chengdu.

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Public opinion also agrees that the key to Xiaomi's successful debut lies in the price. Earlier, securities firms predicted that if the SU7 is priced between 200,000 and 300,000 yuan, annual sales would reach 60,000 units, but if priced above 300,000 yuan, sales would be limited to 3,000 units. The psychological resistance line for the public is expected to form in the mid-200,000 yuan range, similar to Tesla Model 3 rear-wheel drive (about 250,000 yuan).

Another point of interest is how stably the vehicle can be delivered and handed over in the early stages of release. The SU7 is known to have partnered with the state-owned automaker Beijing Automotive Group (BAIC) Beijing factory, capable of producing about 200,000 units annually. A man in his 40s who identified himself as a car enthusiast explained, "Unless the vehicle is in stock, most cars in China require a waiting period of about 4 to 6 weeks after ordering," adding, "Waiting 12 weeks would be somewhat long."

Meanwhile, Lei Jun, Xiaomi's chairman and CEO, wrote on his social media on the day, "For three years, I asked myself, 'If I were to describe the SU7 in one sentence.' My final answer is, 'The most beautiful, the fastest, and the smartest sedan under 500,000 yuan.'"

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