Xiaomi Electrifies the Market: Selling 50,000 Electric Vehicles in Just 27 Minutes

Xiaomi, a Chinese technology company, recently announced the successful sale of its first 50,000 electric vehicles within just 27 minutes of the official launch of its “high-performance sedan and ecological technology”. This marked Xiaomi’s entry into the electric vehicle sector. The launch event took place in Beijing and was attended by the company’s founder, Lei Jun, who revealed the retail prices for the vehicles, starting from 215,900 yuan (29,866 dollars, 27,667 euros) for the basic model.

Lei Jun mentioned that their vehicle is 30,000 yuan cheaper than the American Tesla Model 3, which has a starting price of 245,900 yuan in China. Following the announcement, Xiaomi’s shares in the United States experienced a significant rise of 12.51%. The event was watched by over 2 million viewers through various platforms and around 1,000 people attended in person. Among them were CEOs of other Chinese electric vehicle brands.

Xiaomi’s electric vehicle boasts “super power” electric motors with acceleration from 0 to 100 km/h in just 2.78 seconds and a top speed of up to 265 km/h in its highest range. It comes in three versions – Standard, Pro and Max – with different colors and ranges to choose from. Lei Jun expressed his excitement about the positive response to Xiaomi’s SU7 and announced that it will be available for purchase at over 211 stores across China within a month of release date.

While Xiaomi has not yet announced plans to sell their vehicles abroad, they intend to launch more electric vehicle models in China’s domestic market in future years as part of their goal to become one of the top five electric vehicle manufacturers globally within next fifteen to twenty years.