From CNBC: 2024-10-30 00:09:52

Chinese smartphone company Xiaomi announced preorders for the sports car version of its SU7 electric sedan, priced at over $110,000. Xiaomi delivered over 20,000 SU7 EVs in October and plans to deliver 100,000 by November. Competitors like Xpeng and Nio struggled to reach similar production levels as quickly. Zeekr, a brand by Geely, produced over 100,000 vehicles in 1.5 years.

Xiaomi also announced preorders for the SU7 Ultra sports version, starting at $114,304, with 3,600 preorders within 10 minutes. The company expects to sell more of its premium SU7 Max car with the new model’s achievements at the Nurburgring race track. Analysts have increased the company’s price target and expected car deliveries for next year.

In September, Tesla’s Model Y was the best-selling battery-powered electric car in China, followed by BYD models. Xiaomi’s SU7 ranked 17th with 13,559 cars sold. Xiaomi currently only sells its cars in China and has no immediate plans for an overseas launch.

Read more: Chinese smartphone company Xiaomi delivers 20,000 SU7 EVs in October