Xiaomi EV plans to see production of the SU7 reach around 2,000 units in March and complete capacity ramp-up by mid-2024, according to local media.
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The top-trim version of the Xiaomi SU7 has a vehicle price of RMB 361,400 at the time of insurance purchase, and the starting prices for the full lineup will likely be in the range of RMB 250,000 to RMB 370,000, according to local media.
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Xiaomi's EV business could have an intrinsic value of RMB 90 billion yuan if it scales up rapidly, Morgan Stanley said.
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Xiaomi announced it entry into automotive manufacturing in March 2021, with the goal to become one of the top five vehicle manufacturers.
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"There is no SU5 at the moment, and no EREVs in the coming years," Xiaomi EV said.
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Xiaomi EV's ultimate goal is to have Xiaomi vehicles driving around on every street in the world, it said.
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Xiaomi feels lots of pressure from its fans about SU7 pricing.
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Xiaomi SU7 is unlikely to be priced before its official launch, nothing has been finalized yet, an executive said.
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Xiaomi has lots of stores all around China.
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Hot on the heels of today's launch of Xiaomi's newly announced first car the SU7, Xiaomi has also unveiled a new dedicated website for its EV business.
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