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Chinese electronics manufacturer Xiaomi has reportedly told buyers of its new SU7 electric car that they may face a waiting time of up to seven months.
Tesla’s rivals’ apparent demand for EVs is contributing to potentially months-long delivery waits for the company’s three models, Reuters reported on Monday.
Of the three SU7 models, the Max showed the longest potential delivery wait time of 27 to 30 weeks on Xiaomi’s car app, the paper said. Delivery time for the base and pro versions of the SUV is likely to be 18 to 21 weeks.
Xiaomi SU7 Max electric car is seen at the Xiaomi booth at Mobile World Congress 2024 in Barcelona, Spain on February 26, 2024. (Xavi Torrent/Getty Images/Getty Images)
Customer orders for the company’s SU7 began late last week.
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According to Reuters, Xiaomi recorded about 88,900 orders on the first day of launch. On Thursday, the company announced on Chinese social media platform Weibo that about 50,000 people visited within 30 minutes.
Xiaomi is charging around $30,000 for the base model of the SU7, the outlet reported.
An illuminated logo is placed at the Xiaomi booth at Mobile World Congress 2024 held in Barcelona, Spain on February 26, 2024. (Xavi Torrent/Getty Images/Getty Images)
At this price level, it will be cheaper than the Tesla Model 3 in China. According to this magazine, Tesla, run by Elon Musk, has set the lowest price for the Model 3 in Japan at $34,000.
Tesla faces new competition from Chinese EVs that are cheaper than the Model 3
The SU7 “Founders Edition” model is also available in limited quantities.
According to Reuters, Xiaomi recorded about 88,900 orders on the first day of launch. (Costfoto/NurPhoto/Getty Images via Getty Images)
Xiaomi has been working on EV initiatives for several years. Thanks to about 10 billion yuan worth of research and development, the company has reached a stage where it can enter China’s EV market with the official launch of the SU7 last week.
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The company derives most of its annual revenue from smartphones and other consumer electronics such as watches, tablets, and appliances.
Reuters contributed to this report.
