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The Chinese manufacturer started taking pre-orders for the car at the end of October. The price is over $100,000. CEO Lei Jun said at the official launch of the car in Beijing that it is now reducing the price by 35%.
Lei said that the drivers of the BMW 5 series, Audi A6 and Mercedes-Benz E-class cars have shown interest in the SU7 Ultra. They considered it a little too expensive.
Xiaomi said it received 6,900 orders for the car in 10 minutes. Xiaomi entered China’s crowded EV market last year. With the launch of its successful SU7, a Porsche-like model was released with a price tag of under $30,000. The SU7 surpassed the Tesla Model 3 in the fourth quarter of last year. This trend has been extended until 2025.
Xiaomi has reduced the price of the SU7 Ultra luxury sedan to $72,900, below Tesla or Porsche
Initially, the SU7 Ultra was priced on par with the Tesla Model S Plaid. It sells for $114,200 in China. Xiaomi said in October that it had surpassed the Porsche Taycan Turbo in terms of acceleration and top speed specifications.
Lei also tracked Tesla, referring to the pilot software update The Tesla update has disappointed some Tesla owners. They complained on social media that he did not fulfill CEO Elon Musk’s promises. The promise was to bring complete Autopilot and FSD systems to China.
