In a bid to attract customers away from Xiaomi’s highly anticipated SU7 electric vehicle (EV), Nio, a prominent player in China’s EV market, is reportedly offering incentives to entice SU7 order holders to switch to its own models.
According to local media outlet Cailian, Nio’s offline stores are providing a subsidy of RMB 5,000 ($690) to customers who have already placed orders for the Xiaomi SU7. This move is part of Nio’s strategy to capture a larger share of the EV market and compete with other major players like Xpeng and Li Auto.
“We are subsidizing the same RMB 5,000 whenever you place an order,” a Nio store salesperson stated, emphasizing the simplicity and immediacy of the subsidy offer. Additionally, Nio is offering a refund of the RMB 5,000 deposit at any time, even for orders that have been locked in and are scheduled for production.
Meanwhile, Xpeng and Li Auto have also adjusted their selling prices or introduced limited-time subsidies, but they are no longer exclusively targeting Xiaomi SU7 order holders.
The Xiaomi SU7, launched on March 28, comes in three versions — standard, Pro, and Max — with starting prices ranging from RMB 215,900 to RMB 299,900. The model has generated significant interest, with over 70,000 locked-in orders as of the latest update from Xiaomi founder, chairman, and CEO Lei Jun.
However, due to the high demand, customers who have ordered the Xiaomi SU7 are facing a lengthy wait, with current estimates indicating an eight-month waiting period for delivery. This delay has prompted some customers to explore other options, including Nio’s models.
In response to this competition, Lei Jun suggested on Weibo that customers who are unable to wait for the Xiaomi SU7 may consider alternative models such as the Luxeed S7, Nio ET5, and Xpeng P7.
