Xiaomi's SU7 and Future Models Update

TapTechNews May 23 news, according to Cai Lian News report, Lei Jun, president of Xiaomi Group, said in an interview at the results conference that Xiaomi does have other models in development, but currently the company's entire energy is on the delivery of Xiaomi SU7.

Lei Jun said that there is a strict confidentiality system for new models inside, and it is not yet time to disclose.

At the earnings call conference, Lei Jun also disclosed part of the order information of Xiaomi SU7. 'To our surprise, the proportion of the Max version in the Xiaomi car orders is the highest, exceeding 40%. Specifically, we can understand it as 30% for the standard version, 30% for the Pro version, and 40% for the Max version, but in fact the Max version exceeds 40%. I think our order structure is also very good. In addition, the colors that users like the most are elegant gray, sunglow purple, bay blue and olive green. The sunglow purple order has a proportion of more than 20%, which is also beyond our expectation.'

Lei Jun also said, 'Whether it's the elderly or children, everyone knows Xiaomi SU7. We can say that our出圈 effect is still very strong. On the Apple user side, we found that the user proportion of Apple exceeds 50%; the number of female purchasers is close to 30%, and there is also a part where the husband buys for the wife, so we think the proportion of female car owners is initially estimated to be about 40% to 50%; the user proportion of BBA exceeds 29%.'

Xiaomi Group announced today that in the first quarter of 2024, the company's total revenue reached 75.5 billion yuan, an increase of 27% year-on-year; the adjusted net profit was 6.5 billion yuan, an increase of 101% year-on-year.

TapTechNews also summarizes the previous rumors related to Xiaomi's second model:

March 29: Some media claim to have learned from reliable sources that Xiaomi may release an SUV model at the end of this year.

April 23: Some media gave more detailed details - Xiaomi's second model is positioned as a pure electric SUV and is expected to be launched in the first half of 2025, continuing the design level of the first car; the initial positioning of the third model is at the 150,000-yuan level and is expected to be launched in 2026.

April 28: Some media quoted the news from multiple independent sources that Xiaomi Motors has started the development work of a new platform. The platform will adopt a range-extending hybrid powertrain. The three planned products are all SUV models and are positioned as family cars, targeting at Ideal L7, Ideal L8, and Ideal L9. Through the change in the wheelbase and the number of seats on the same platform architecture, product differentiation is carried out, but the price range will be lower than that of Ideal products. However, this news was later denied by Wang Hua, the manager of Xiaomi's public relations department, and the spokesperson of Xiaomi Company.