Xiaomi's supercar is anticipated to achieve its yearly goal in just one night with more than 10,000 orders.

      On Thursday, February 27, 2025, Xiaomi began selling the SU7 Ultra, a premium version of its inaugural electric vehicle (EV) model, the SU7, with prices ranging from RMB 529,900 to RMB 814,900 ($72,702 to $111,886). Credit: Xiaomi

      Following the swift success of its first electric vehicle, Xiaomi made headlines again on Thursday, as CEO Lei Jun announced that the company had received over 10,000 orders for its eagerly awaited supercar just two hours after its debut. The smartphone manufacturer initially aimed to sell this number of SU7 Ultra sportscars, starting at RMB 529,900 ($72,702), throughout the entire year, based on a sales forecast posted by Lei the day before the launch on Weibo, a Chinese microblogging platform. During a press briefing in Beijing, Lei stated that the firm intends to “redefine premium vehicles for this generation,” offering a blend of performance akin to Porsche, technology comparable to Tesla, and luxury on par with brands like BMW, Mercedes-Benz, and Audi (our translation). Why it’s significant: The milestone of 10,000 orders indicates a rising acknowledgment that Xiaomi might significantly influence the automotive market, with the SU7 Ultra designed to provide practicality and performance at less than half the price of Porsche’s Panamera. Citic Securities analysts projected that annual sales for the luxury sedan might exceed 50,000 units this year—much higher than what was achieved by models such as the BMW M2 and Porsche 718/911 in China last year—owing to its competitive pricing.

      In a report sent to clients on Thursday, the Chinese brokerage anticipated that the car would primarily attract three demographics: Xiaomi brand enthusiasts, Chinese performance car aficionados, and consumers seeking practical luxury cars priced around RMB 500,000. Lei Jun, the founder and CEO of Xiaomi, spoke at an event where the company unveiled the SU7 Ultra in Beijing on February 27, 2025. Credit: Xiaomi Details: The introduction of the SU7 Ultra came as a surprise to analysts and reporters when Xiaomi revealed a starting price of around RMB 500,000, one-third lower than the pre-sale estimate of RMB 814,900. This pricing positions the car at half the cost of the Porsche Taycan and Mercedes-Benz AMG GT and within the price range of business and family cars like the BMW 5 series and Audi A6.

      The standard edition features three electric motors that generate a combined output of 1,548 horsepower and a peak torque of 1,770Nm, enabling it to accelerate from 0 to 100 km/h (62 mph) in just 1.98 seconds and reach speeds exceeding 350 kilometers per hour. Xiaomi claims that the standard variant is fit for racing competitions. It utilizes a high-voltage, 93.7 kilowatt-hour (KWh) battery pack, supplied by China’s CATL, which allows for a range of up to 630 kilometers (392 miles) on a single charge. Additionally, carbon-ceramic premium brake discs enable the car to handle 10 consecutive 180 km/h to 0 brake tests without deterioration.

      This road-legal race car strikes an impressive balance between excitement and everyday usability, incorporating various carbon fiber components, such as the steering wheel and mirror covers, to enhance its performance, durability, and style, while also featuring front seats equipped with heating and massage functions. Xiaomi also announced that it will release a limited-edition model priced at RMB 814,900, named after Germany’s Nürburgring racetrack, where an SU7 Ultra prototype achieved a record lap time of 6:46.874 minutes last October, making it the fastest four-door car globally. Context: Xiaomi reported delivering over 135,000 SU7 sedans last year, which launched in March, competing with Tesla’s Model 3 that starts at RMB 215,900. The Chinese tech giant plans to launch its second vehicle, the YU7, in June or July, which is expected to compete with Tesla’s popular Model Y crossover and serve as another avenue for growth, according to TechNode.

      Several leading Chinese automotive manufacturers have introduced similar vehicles, aiming to establish their foothold in the luxury auto market, including BYD’s Yangwang U9, the Zeekr 001 FR from Geely, and GAC’s Hyper SSR supercar.

      Jill Shen is a technology reporter based in Shanghai, focusing on Chinese mobility, autonomous vehicles, and electric cars. You can reach her via email at [email protected] or on Twitter @jill_shen_sh. More from Jill Shen.