At the Xiaomi car launch conference on the evening of March 28, Xiaomi Group CEO Lei Jun announced the prices of the three versions of Xiaomi SU73: the standard version is 215,900 yuan, the Pro version is 245,900 yuan, and the Max version is 299,900 yuan.
The press conference also announced the first nine exterior colors of SU7, including Gulf Blue, Elegant Grey, Olive Green, Sunburst Purple, Pearl White, Meteor Blue, Cambrian Grey, Diamond Black and Lava Orange; interior colors include Galaxy Grey, Dusk There are four colors: light red, mist purple and obsidian black.
Lei Jun said at the press conference, "The standard version of SU7 has a range of 700 kilometers, and the Max version has a range of 810 kilometers, which is far ahead." Lei Jun said that battery life is the most expensive configuration of electric cars. "Although battery prices have dropped significantly recently, battery costs still account for more than 30% of vehicle manufacturing costs."
At the press conference, Lei Jun also shared various comparisons between Xiaomi SU7 and Tesla Model 3 configurations.
In addition, Lei Jun once again emphasized at the press conference that "Xiaomi SU7 is the fastest and most powerful model within 500,000 yuan."
How much did it cost?
In the process of building Xiaomi's cars, in addition to the price, there is another number that has attracted much attention, that is, how much money Xiaomi spent to build the cars.
On March 19, Xiaomi Group released its 2023 annual report, which showed that in 2023, Xiaomi Group’s R&D investment was 19.1 billion yuan, a year-on-year increase of 19.2%. The financial report stated that this was mainly due to the increase in research and development expenses related to the smart electric vehicle business and other innovative businesses.
For the whole year of 2023, Xiaomi Group’s expenses on innovative businesses mainly focusing on automobiles will increase to 6.7 billion yuan (excluding stock compensation expenses of 800 million yuan related to innovative businesses such as smart electric vehicles), of which expenses in the fourth quarter will be 24 billion.
Although the size of the car R&D team was not disclosed in the 2023 financial report, Lei Jun revealed in CCTV's "Face to Face" program on December 18 last year that 3,400 engineers were invested in Xiaomi Motors' first car, and the research and development cost exceeded 100 billion.
At a previous technology conference, Lei Jun revealed that Xiaomi's full-stack self-developed intelligent driving technology research and development expenses, the first phase of which total investment was 3.3 billion yuan, has been increased to 4.7 billion yuan.
On the day when it officially announced its car production two years ago, Xiaomi Group announced on the Hong Kong Stock Exchange that Xiaomi Motors plans to invest 10 billion yuan in the first phase and US$10 billion in the next ten years.
Xiaomi car manufacturing timeline
"Fight for Xiaomi cars."
On the evening of March 30, 2021, at Xiaomi’s spring new product launch conference, Lei Jun officially announced to the outside world his determination to build a car.
"From the moment I made the decision, I no longer cared about the pressure." Lei Jun said, "This will be the last major entrepreneurial project in my life."
Since the official announcement of the car, Xiaomi’s every move has attracted much attention.
On September 1, 2021, Xiaomi spokesperson’s official Weibo announced that Xiaomi Automobile Co., Ltd. has completed industrial and commercial registration with a registered capital of 10 billion yuan and the company’s legal representative is Lei Jun.
On October 19, 2021, Lei Jun announced at the Investor Day that Xiaomi Motors is expected to be officially mass-produced in the first half of 2024.
In January 2022, Xiaomi Motors announced the construction of automobile factories in five locations.
In January 2023, Xiaomi Motors announced that it would launch its first mass-produced car in 2024.
On December 28, 2023, Xiaomi held an automotive technology conference, and Xiaomi’s first electric car, SU7, was unveiled.
On February 26, 2024, Xiaomi SU7 was unveiled at the Mobile World Congress (MWC) in Barcelona.
On March 23, Lei Jun posted on Weibo that a total of 576 prototype vehicles were used in the large-scale road testing of Xiaomi SU7, which was conducted in 300 cities across the country, and he himself participated in more than 10 road tests.
On March 25, Xiaomi SU7 launched static tastings at 76 stores in 29 cities across the country.
On March 28, Xiaomi Auto held a launch conference. SU7 was officially launched and the price was announced.
The press conference also announced the first nine exterior colors of SU7, including Gulf Blue, Elegant Grey, Olive Green, Sunburst Purple, Pearl White, Meteor Blue, Cambrian Grey, Diamond Black and Lava Orange; interior colors include Galaxy Grey, Dusk There are four colors: light red, mist purple and obsidian black.
Lei Jun said at the press conference, "The standard version of SU7 has a range of 700 kilometers, and the Max version has a range of 810 kilometers, which is far ahead." Lei Jun said that battery life is the most expensive configuration of electric cars. "Although battery prices have dropped significantly recently, battery costs still account for more than 30% of vehicle manufacturing costs."
At the press conference, Lei Jun also shared various comparisons between Xiaomi SU7 and Tesla Model 3 configurations.
In addition, Lei Jun once again emphasized at the press conference that "Xiaomi SU7 is the fastest and most powerful model within 500,000 yuan."
How much did it cost?
In the process of building Xiaomi's cars, in addition to the price, there is another number that has attracted much attention, that is, how much money Xiaomi spent to build the cars.
On March 19, Xiaomi Group released its 2023 annual report, which showed that in 2023, Xiaomi Group’s R&D investment was 19.1 billion yuan, a year-on-year increase of 19.2%. The financial report stated that this was mainly due to the increase in research and development expenses related to the smart electric vehicle business and other innovative businesses.
For the whole year of 2023, Xiaomi Group’s expenses on innovative businesses mainly focusing on automobiles will increase to 6.7 billion yuan (excluding stock compensation expenses of 800 million yuan related to innovative businesses such as smart electric vehicles), of which expenses in the fourth quarter will be 24 billion.
Although the size of the car R&D team was not disclosed in the 2023 financial report, Lei Jun revealed in CCTV's "Face to Face" program on December 18 last year that 3,400 engineers were invested in Xiaomi Motors' first car, and the research and development cost exceeded 100 billion.
At a previous technology conference, Lei Jun revealed that Xiaomi's full-stack self-developed intelligent driving technology research and development expenses, the first phase of which total investment was 3.3 billion yuan, has been increased to 4.7 billion yuan.
On the day when it officially announced its car production two years ago, Xiaomi Group announced on the Hong Kong Stock Exchange that Xiaomi Motors plans to invest 10 billion yuan in the first phase and US$10 billion in the next ten years.
Xiaomi car manufacturing timeline
"Fight for Xiaomi cars."
On the evening of March 30, 2021, at Xiaomi’s spring new product launch conference, Lei Jun officially announced to the outside world his determination to build a car.
"From the moment I made the decision, I no longer cared about the pressure." Lei Jun said, "This will be the last major entrepreneurial project in my life."
Since the official announcement of the car, Xiaomi’s every move has attracted much attention.
On September 1, 2021, Xiaomi spokesperson’s official Weibo announced that Xiaomi Automobile Co., Ltd. has completed industrial and commercial registration with a registered capital of 10 billion yuan and the company’s legal representative is Lei Jun.
On October 19, 2021, Lei Jun announced at the Investor Day that Xiaomi Motors is expected to be officially mass-produced in the first half of 2024.
In January 2022, Xiaomi Motors announced the construction of automobile factories in five locations.
In January 2023, Xiaomi Motors announced that it would launch its first mass-produced car in 2024.
On December 28, 2023, Xiaomi held an automotive technology conference, and Xiaomi’s first electric car, SU7, was unveiled.
On February 26, 2024, Xiaomi SU7 was unveiled at the Mobile World Congress (MWC) in Barcelona.
On March 23, Lei Jun posted on Weibo that a total of 576 prototype vehicles were used in the large-scale road testing of Xiaomi SU7, which was conducted in 300 cities across the country, and he himself participated in more than 10 road tests.
On March 25, Xiaomi SU7 launched static tastings at 76 stores in 29 cities across the country.
On March 28, Xiaomi Auto held a launch conference. SU7 was officially launched and the price was announced.
