Xiaomi founder and CEO Lei Jun expressed confidence in the SU7 Ultra’s market prospects, stating that the company is “90 percent sure” of reaching its 10,000-unit sales target for the high-performance electric sedan this year.
“The Ultra is a strong product, and our team is confident that we are 90 percent sure of our 10,000-unit annual sales target,” Lei wrote on Weibo on Monday, a day before the official launch event.
See also: Xiaomi SU7 Ultra Gets a Sleek Cosmic Silver Makeover
Xiaomi’s automotive division, Xiaomi EV, confirmed that the SU7 Ultra will be launched on February 27 at 7 p.m. Beijing time. The vehicle, an upgraded version of the SU7 sedan, was first unveiled on October 29, 2023, and opened for pre-sales at RMB 814,900 ($112,330). Within 10 minutes, Xiaomi EV reported 3,680 pre-orders.
Lei emphasized Xiaomi’s ambition to position the SU7 Ultra as a benchmark in the luxury electric vehicle market. “Our goal is that it is comparable to Porsche in performance, Tesla in technology, and BBA in luxury,” he stated, referring to German automakers Mercedes-Benz, BMW, and Audi.
See also: Xiaomi Sets Aggressive Sales Target for SU7 Ultra Electric Vehicle in 2025
Xiaomi entered the EV sector with the launch of the standard SU7 on March 28, 2024, at a starting price of RMB 215,900. The model has delivered over 135,000 units in 2024, with monthly sales exceeding 20,000 units in each of the past four months. The company aims to sell 300,000 EVs in 2025.
Beyond the SU7 Ultra, Xiaomi is expected to expand its lineup with the YU7 electric SUV, slated for release in June or July.
