On the evening of March 28th, the highly anticipated Xiaomi SU7 launch event came to a close, and the long-awaited pricing mystery was finally revealed. That night, topics such as ‘Xiaomi SU7 price’ and ‘Lei Jun Lei God’ directly exploded, dominating the Weibo hot search list. In addition, related topics including competitors like Tesla, AITO M9, BYD, NIO also surged in hot searches.
After going on sale at 10:00 p.m. on March 28th, Xiaomi‘s car announced on social media that the sales of Xiaomi SU7 exceeded 10,000 units in just 4 minutes after launch, exceeded 20,000 units in 7 minutes after launch, and exceeded 50,000 units in just 27 minutes after launch.
The prices exceeding expectations have led netizens to call Lei Jun the ‘Lei God’. At the press conference held by Lei Jun on the evening of March 28th, he introduced that the standard version of Xiaomi SU7 (rear-wheel drive long-endurance smart driving edition) is priced at 215,900 yuan; the Pro version of Xiaomi SU7 (rear-wheel drive ultra-long endurance high-end smart driving edition) is priced at 245,900 yuan; and the Max version of Xiaomi SU7 (high-performance four-wheel drive ultra-long endurance high-end smart driving edition) is priced at 299,900 yuan.
At the press conference, Lei Jun announced that the Xiaomi SU7 Standard Edition and Max Edition will start delivery at the end of April, while the Pro Edition will start delivery at the end of May. In addition, Lei Jun mentioned that they will launch a Xiaomi SU7 Founder’s Edition with the same price as the Standard Edition and Max Edition. Limited to 5000 units, with a deposit of 20,000 yuan, deliveries will begin on April 3rd.
The Xiaomi car app shows that all 5000 units of the Xiaomi SU7 Founder’s Edition have been sold out. The deposit for the Founder’s Edition is 20,000 yuan per unit and is non-refundable. This means that Xiaomi has already received 100 million yuan in deposits for only the Founder’s Edition tonight.
Netizens also reported that despite waiting on time, the server was overloaded and crashed instantly.
On the evening of March 28, Xiaomi Group (ADR) rose more than 10% at one point, and is now trading at $10.43 per share.
It is worth mentioning that Lei Jun stated in a media interview that after the Xiaomi car launch event, there were 100,000 people adding to their wish list within one minute. The enthusiasm of users is very high. Regarding price wars, he mentioned that the current industry competition is fierce and Xiaomi is aware of the cruelty of competition. Price war is just one tactic; we should focus on product warfare, technology warfare, and ecosystem warfare. ‘Intelligence and ecology are our strongest advantages. There are few competitors for Xiaomi SU7 under 500,000 yuan; I am very satisfied with this car,’ said Lei Jun.
SEE ALSO: Xiaomi SU7 Officially Launched, Starting Price at 215,900 Yuan
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