Grant Furlane’s Post

Chinese tech giant Xiaomi's latest electric vehicle is exceeding expectations in sales, bringing it closer to breaking even despite undercutting Tesla's Model 3 on price. As of April 20, Xiaomi has received over 70,000 orders for its electric SU7 sedan, nearing its original target for full-year deliveries. CEO Lei Jun announced plans to deliver 100,000 of these vehicles this year. Released in late March with a price tag about $4,000 lower than Tesla's Model 3, the SU7 has begun deliveries, with Xiaomi scheduled to livestream a car update during the Beijing auto show. Analysts at Citi have adjusted their forecasts, now expecting Xiaomi's autos segment to achieve a gross profit margin of 6% this year, compared to a previously expected 10% loss. They anticipate Xiaomi shipping 100,000 cars this year, 200,000 next year, and 280,000 in 2026. While Tesla China sold over 600,000 cars last year and Li Auto and Nio sold significant numbers, Xiaomi's focus remains on the domestic market for the next three years. However, the company plans to enter the global market in due time, leveraging its existing global influence and fan base. Xiaomi's next electric car, an SUV, is reportedly set for release in the second half of 2025, with Lei emphasizing the success of the SU7's launch due in part to its confidentiality. #Tesla #Xiaomi #EV #Electricvehicle

Chinese tech giant Xiaomi's latest electric vehicle is exceeding expectations in sales, bringing it closer to breaking even despite undercutting Tesla's Model 3 on price. As of April 20, Xiaomi has received over 70,000 orders for its electric SU7 sedan, nearing its original target for full-year deliveries. CEO Lei Jun announced plans to deliver 100,000 of these vehicles this year. Released in late March with a price tag about $4,000 lower than Tesla's Model 3, the SU7 has begun deliveries, with Xiaomi scheduled to livestream a car update during the Beijing auto show. Analysts at Citi have adjusted their forecasts, now expecting Xiaomi's autos segment to achieve a gross profit margin of 6% this year, compared to a previously expected 10% loss. They anticipate Xiaomi shipping 100,000 cars this year, 200,000 next year, and 280,000 in 2026. While Tesla China sold over 600,000 cars last year and Li Auto and Nio sold significant numbers, Xiaomi's focus remains on the domestic market for the next three years. However, the company plans to enter the global market in due time, leveraging its existing global influence and fan base. Xiaomi's next electric car, an SUV, is reportedly set for release in the second half of 2025, with Lei emphasizing the success of the SU7's launch due in part to its confidentiality.#Tesla #Xiaomi #EV #Electricvehicle

Some time back I posted about consumers preferring to buy cars from tech companies rather than traditional automobile companies in future. Apple gave it up but Xiaomi persued it. They launched their first car SU7 Model last week. Priced at around 30k USD, it has an impressive driving range of 700 KMs. I am curious to know what digital futures it might have now and what the roadmap is. The company claims it sold out 50k units within 30 mins of launch. #car #automobile #Xiaomi #ev #electricvehicle #digital https://lnkd.in/gjD3uDCx

𝗫𝗶𝗮𝗼𝗺𝗶'𝘀 𝗘𝗹𝗲𝗰𝘁𝗿𝗶𝗰 𝗖𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲: 𝗔 $𝟰𝗞 𝗖𝗵𝗲𝗮𝗽𝗲𝗿 𝗥𝗶𝘃𝗮𝗹 𝘁𝗼 𝗧𝗲𝘀𝗹𝗮'𝘀 𝗠𝗼𝗱𝗲𝗹 𝟯 Xiaomi has unveiled its electric car, the SU7, priced at 215,900 yuan ($30,408), undercutting Tesla's Model 3 by $4,000 in China. Despite selling at a loss, Xiaomi's CEO Lei Jun boasts that the SU7 surpasses the Model 3 in over 90% of specs, except for two areas needing 3-5 years to match. With a 700 km range and 50,000 orders within 27 minutes of sales opening, Xiaomi's entry signifies a heating price war in the electric vehicle sector. Deliveries are expected by April's end, amid fierce market competition. #finance #news #Xiaomi #Tesla #ElectricCars Source: CNBC, https://lnkd.in/gmX9zHih

Xiaomi, a well-known Chinese tech company, recently launched its first electric car model, the Xiaomi MS11. This car is notably priced at 159,900 yuan (around $23,000 USD), which is about $4,000 less than the starting price of Tesla's Model 3 in China. The release of the MS11 marks Xiaomi's official entry into the competitive electric vehicle (EV) market, and its aggressive pricing strategy is seen as a direct challenge to Tesla's dominance in the Chinese market. This move has further intensified the ongoing price wars among EV manufacturers. Some key features of the Xiaomi MS11 include: - Sleek design with a focus on aerodynamics - Advanced driver assistance systems - Long-range battery options - Integration with Xiaomi's ecosystem of smart devices It's important to note that this is a developing story, and the full impact of Xiaomi's entry into the EV market remains to be seen. However, it's clear that the company is poised to disrupt the industry with its competitive pricing and innovative features. If you'd like to learn more about the Xiaomi MS11, read: https://lnkd.in/gmX9zHih

A Price War Begins! 💥🚗 The EV market is heating up, and the latest trend to hit the scene is a fierce price war among manufacturers. As demand for sustainable transportation continues to surge, companies are vying for market share by slashing prices and offering competitive deals even burning their own money to get a significant share. This price war signifies a significant shift in the industry, making electric vehicles more accessible to a wider audience.But what does this mean for consumers? It means more choices, better affordability, and ultimately, a greener future for all. As the battle for dominance rages on, expect to see even more innovation and disruption in the EV space #ElectricVehicles #PriceWar #Sustainability #Innovation #FutureofMobility

Xiaomi doubles down on EVs 🚗📢   The Chinese tech giant reportedly plans to debut a second EV by Q1 2025 that will compete with the Tesla Model Y. https://lnkd.in/gjzRffn5

#VantageOnFirstpost Xiaomi Triggers a Price War with Tesla with EV Launch | Vantage with Palki Sharma Chinese phone maker Xiaomi recently launched their first electric car (EV). Within the first 24 hours upon its debut, Xiaomi's EV model was booked by over 88,000 customers. These cars cost $4000 less compared to Tesla, and that makes them more attractive to buyers. Xiaomi's market value shot by 16% today and surpassed the total valuation of companies including General Motors and Ford. However, Xiaomi is reportedly set to bear losses with every sale. According to one estimate, the company would lose $10,000 on every car they sold. Why is Xiaomi entering the EV sector then? Palki Sharma tells you. --- China | Xiaomi | Market Value | Electric Car | Electric Vehicle | EVs | Firstpost | World News | Vantage | Palki Sharma #china #xiaomi #marketvalue #electriccar #electricvehicle #evs #firstpost #vantageonfirstpost #palkisharma #worldnews

Xiaomi CEO Lei Jun said the standard version of the SU7 will sell for 215,900 yuan ($30,408) in the country — a price he acknowledged would mean the company was selling each car at a loss. Tesla's Model 3 starts at 245,900 yuan in China. Lei claimed the standard version of the SU7 beat the Model 3 on more than 90% of its specifications, except on two aspects that he said it might take Xiaomi at least three to five years to catch up with Tesla on. * Even this Chinese "Nokia" can build All-Battery Electric cars competitive to Tesla. From late Professor Clayton Christensen from Harvard Business School, Harvard University based on the Theory of Disruptive Innovation - EV has achieved commodity market status, alike MP3 players, not even our Creative Technology among the 1st to conquer this product since its standardization in 1998 and launched in 2000, before Apple iPhone made iPod available in 2001. When that happens, the value-chain movement will be from Hub-to-Spoke; making EV is a "done" deal - Disruptive Innovation is EvolutionNext 🌿

The manufacturing capabilities of Xiaomi have reached a new milestone with the introduction of its own electric vehicle, the SU7. I had the opportunity to thoroughly review the 2-hour presentation delivered by Lei Jun, the esteemed billionaire and founder of Xiaomi. He alluded to the launch by expressing his desire for the company’s inaugural electric vehicle to embody the qualities of being the “best-looking, easiest to drive, and smartest car,” while being priced below 500,000 yuan ($69,180). The importance of design is made possible by the manufacturing capabilities, and Xiaomi has demonstrated that they are able to deliver design by the sheer strength of their manufacturing power. Xiaomi is targeting discerning consumers in the premium segment. The standard SU7 is notably more affordable than an imported Porsche Taycan, which commences at 898,000 yuan ($124,248). Furthermore, it competes favourably with Tesla’s Model S sedan, which starts at 698,900 yuan ($96,700). Electric vehicles in China are notably more competitively priced than those in the global market. For instance, BYD’s most economical model, the Seagull hatchback, costs only 69,800 yuan ($9,658). https://lnkd.in/gMYCng55 #andrewtanatomisingapore