Ford CEO Jim Farley’s recent praise for Xiaomi’s SU7 EV has sparked a friendly rivalry with Tesla, with the electric vehicle giant inviting Farley to experience the Cybertruck firsthand. Farley, known for his hands-on approach to understanding the competition, has driven the Xiaomi SUV for six months, highlighting its performance and market success. Tesla’s response underscores the intensifying competition in the EV market, as both companies push to dominate the sector.
Ford CEO Jim Farley has publicly praised the Xiaomi Speed Ultra 7 (SU7), highlighting its performance and market success. This comes as the US considers banning Chinese-made vehicles due to national security concerns, adding a layer of complexity to the situation. Despite its popularity, Xiaomi’s EV division faces financial hurdles, reporting losses in the second quarter.
Xiaomi, the Chinese tech giant, has reported strong initial sales for its first electric vehicle, the SU7 sedan. The company delivered over 27,000 units in the second quarter, exceeding expectations and falling just short of rival XPeng. Xiaomi’s EV business is already generating significant revenue and achieving a healthy gross profit margin.
Xiaomi, renowned for its dominance in smartphone manufacturing, has set its sights on the automobile industry with resounding success. The company has garnered an impressive 75,723 pre-orders for its SU7 electric sedan within a month of its launch, aiming to deliver over 10,000 units by June. Driven by strong demand, Xiaomi plans to deliver more than 100,000 SU7s this year, primarily focusing on the Chinese market for the next three years. To meet the surging orders, Xiaomi has accelerated deliveries of both standard and Max versions of the SU7 and intends to roll out Pro models by the end of May.
Chinese tech giant Xiaomi has achieved early success in the competitive electric vehicle market, with its SU7 sedan securing over 70,000 advance orders within a month of its launch. The company aims to sell 100,000 units of the SU7 this year. Xiaomi’s entry into the EV sector has sparked a price war among Chinese automakers. The SU7 comes in three variants, priced from 215,900 yuan to 299,900 yuan, offering a range of features and performance levels.
