Xiaomi Launches Luxury SU7 Ultra EV in China
Chinese smartphone maker Xiaomi is making a bold move into the luxury electric vehicle (EV) market with the launch of its SU7 Ultra. The company, which has already made a successful entry into the EV sector, unveiled its most premium model yet on Thursday.
The four-door sedan, first previewed in April, is priced at 529,900 yuan (US$72,929). This price point is 35 percent lower than the initial quote of 814,900 yuan when presales began in October. The SU7 Ultra boasts Xiaomi’s Hyper-Autonomous Driving (HAD) technology, a smart driving system introduced in November.
The Xiaomi SU7 Ultra EV has been available via presale. Photo: Xiaomi
During a launch event on Thursday, Lei Jun, Xiaomi’s founder and CEO, shared that the company received orders for 248,000 EVs in the first nine months of 2024, delivering 135,000 vehicles during the same period.
Xiaomi also launched the Xiaomi 15 Ultra smartphone on Thursday, marking a strategic move into the “ultra-high-end” market. In a post on the Chinese social-media platform Sina Weibo on Monday, Lei said that the SU7 and the new smartphone represented Xiaomi’s most “high-end” products to date.
“The SU7 Ultra will redefine the standards of luxury cars,” Lei stated. He added that earlier this month, the SU7 Ultra set a new benchmark by outpacing a Porsche Taycan Turbo GT to become the fastest mass-produced four-door car on the Shanghai International Circuit.
Lei indicated on Wednesday that Xiaomi is “90 percent certain” the SU7 Ultra will achieve annual sales of 10,000 units.
Xiaomi entered China’s competitive EV market in March with the launch of its initial models, the SU7, SU7 Pro and SU7 Max. This strategic shift has been closely watched as a significant business move by a Chinese technology company.
