Xiaomi, the Chinese smartphone giant, has received over 75,000 orders for its new SU7 electric sedan by April 24th. Founder Lei Jun announced this during an event at the Beijing auto show. Their goal is to deliver more than 10,000 units in June, setting a new record for an electric vehicle startup.
These orders have come in less than a month since the launch of Xiaomi’s first car in late March. Customers have placed non-refundable deposits to secure their orders.
Xiaomi plans to deliver over 100,000 SU7 cars in 2024, focusing entirely on the Chinese market for the next three years. They have already started delivering the standard and Max versions of the SU7 ahead of schedule, with the Pro models expected to be delivered by the end of May.
The SU7, inspired by Porsche and priced competitively against Tesla’s Model 3, has sparked a price war in the Chinese electric vehicle market. Xiaomi is eager to expand its auto team and invites global talent to join their car-making efforts.
– Open a Demat account with Angel One.
– Explore the stock market, find Sat Industries, and place your order.
