Xiaomi delivers over 180,000 SU7s, the Ultra version sold out for two years

Xiaomi continues to see remarkable success with its SU7 line of electric cars. The SU7 Ultra, the high-performance variant of its flagship sedan, might have shattered initial sales projections, but its non-performance sibling is breaking sales and delivery records, month after month.

The SU7 has kept a steady delivery rate, with over 20,000 units hitting the road every month for the past five months. This consistency has pushed cumulative deliveries to over 180,000 units. The SU7 comes in three versions: Standard, Pro, and Max. The Standard version starts at approximately RMB 215,900 ($29,640), the Pro at RMB 245,900 ($33,800), and the Max at RMB 299,900 ($41,180).

The SU7 Ultra was launched on February 27, 2024. This powerhouse comes with three electric motors, delivering 1,548 horsepower. It can accelerate from 0 to 62 mph in just 1.98 seconds, and from 0 to 124 mph in 6.09 seconds. Xiaomi claims this makes it the fastest four-door production car available.

The SU7 Ultra starts at RMB 529,900 ($72,750), a significant reduction from the previously marketed pre-sales price of RMB 814,900 ($112,000). This price adjustment appears to have worked wonders, as the vehicle got over 6,900 orders within the first 10 minutes of its launch.

Xiaomi had initially set a conservative sales target of 10,000 units for the SU7 Ultra in 2025. However, the overwhelming demand has prompted the company to reconsider its production plans. According to Xiaomi founder Lei Jun, the Ultra received 15,000 orders in the first 24 hours after launch, and at the moment firm orders stand at 19,000 units, with locked-in orders exceeding 10,000 units. Taking the current production levels into account, it means the Ultra is sold out for the next two years.

Lei Jun explained that the initial sales target was based on the total sales of sedans priced above RMB 500,000 ($68,700) in China, which averages 121,000 units per year. Given this context, the initial target was not considered low. The SU7 Ultra's demand has far exceeded expectations, prompting discussions about increasing production capacity.

To provide consumer confidence, Xiaomi EV is offering a 7-day hesitation period for firm order holders, allowing them to receive a full refund on their RMB 20,000 deposit. However, deposits for locked-in orders are non-refundable.