According to Reuters, anyone interested in purchasing one of Chinese smartphone manufacturer Xiaomi’s new electric vehicles may have to wait up to seven months. According to the article, the business informed potential purchasers that using Xiaomi’s automotive app, the wait time for its SU7 electric sedan might be four to seven months.
Last week, Xiaomi unveiled its first EV, the Speed Ultra 7 (SU7), at a spectacular event in Beijing. According to Reuters, pre-orders for the vehicle reached 88,898 within 24 hours of its launch.
While the delays may indicate great demand for the SU7, the Beijing-based tech giant has joined the EV market at a critical juncture. Xiaomi is likewise vying for the high-end of the Chinese vehicle market.
Xiaomi’s basic SU7 costs 215,900 yuan, or roughly $30,000. That is around 30,000 yuan less than Tesla’s Model 3 in China. The Pro version costs 245,900 yuan, or roughly $34,000, while the Max costs 299,900 yuan, or around $41,500.
According to Reuters analysts, Xiaomi’s smartphone expertise might help the business design intelligent dashboards. Xiaomi also has significantly higher cash reserves than smaller EV businesses, which might help them negotiate China’s competitive market.
