"Goal Achieved in 2 Hours"... 100 Million Won Xiaomi Electric Car, 10,000 Reservations Immediately After Launch

by Kim Jinsun

Published 28 Feb.2025 11:10(KST)

Updated 28 Feb.2025 11:20(KST)

Lei Jun's Annual Sales Target of 10,000 Units Achieved in Just Two Hours

Chinese company Xiaomi's newly launched premium electric vehicle model, the 'Xiaomi SU7 Ultra,' surpassed 10,000 orders within just two hours of its release.

Reuters Yonhap News

On the 28th, multiple local media outlets including China's Jiemian News reported, "Lei Jun (Xiaomi CEO) set an annual sales target of over 10,000 units, which was achieved within two hours."

Xiaomi released its first electric vehicle model, the SU7, in March last year. The model initially aimed to sell 100,000 units but sold 135,000 units last year alone, with 20,000 units sold in January this year.

The SU7 Ultra is a premium version of the Xiaomi SU7 series, targeting the Porsche Taycan Turbo GT. Lei Jun described the SU7 Ultra by stating that Porsche is their role model and emphasized the need to keep learning. He also revealed that the goal is to achieve performance similar to Porsche, technology comparable to Tesla, and luxury akin to BBA (Mercedes-Benz, BMW, Audi). Xiaomi stated that this model can accelerate from a standstill to 100 km/h in 1.98 seconds, with a top speed of 350 km/h.

Lei Jun explaining the Xiaomi SU7 Ultra. Photo by He Xunmang

At a press conference held the day before, Lei Jun announced the price of the Xiaomi SU7 Ultra as 529,900 yuan (approximately 10.51 million KRW). Originally priced at 814,900 yuan (approximately 16.253 million KRW), it was reduced by nearly 300,000 yuan (about 5.9 million KRW), attracting market attention. Lei Jun explained, "Many people want to buy the SU7 Ultra but think it is expensive. Even though we are making a premium car, we lowered the price so that many people can afford it."

Xiaomi announced that 10,000 units of the SU7 Ultra were reserved within two hours. Xiaomi Weibo

Lei Jun stated, "The SU7 Ultra will redefine the new standard for premium cars," and added, "Our goal is to sell 300,000 electric vehicles by the end of this year." Xiaomi plans to launch its second electric vehicle model, a sports utility vehicle (SUV) called the ‘YU7,’ between June and July.