Xiaomi Launches New Luxury Car Model With Cheaper-Than-Expected Price Tag

Dow Jones

28 Feb

By Jiahui Huang

Chinese consumer-electronics giant Xiaomi launched its new luxury electric vehicle with a lower-than-expected price tag, as competition ramps up in China's electric-vehicle market.

Xiaomi is selling its new four-door SU7 Ultra sedan at a starting price of 529,900 yuan, equivalent to around $73,000, Chief Executive Lei Jun said late Thursday. That is 35% lower than the 814,900 yuan starting price quoted when presales started in October.

"We believe SU7 Ultra could beat its [sales] target given the price cut and freebie offerings as well as a precise target marketing effect, which provides higher gross margin support for the overall EV business," Citi analysts said in a note.

Earlier this month, Lei had said Xiaomi's 2025 sales target for the SU7 Ultra model was 10,000 units.

Xiaomi is marketing the new sedan as a luxury model, targeting the high-end segment, which Deutsche Bank analyst Bin Wang says marks the company's entry into the luxury EV market.

The SU7 Ultra will be equipped with Xiaomi's autonomous-driving technology, which Wang thinks should help the company grow its market share.

Overall, Xiaomi said it aims to sell 300,000 vehicles in 2025.

Xiaomi's shares were last down 1.1% at 52.50 Hong Kong dollars, equivalent to US$6.75, in Friday trading. The benchmark Hang Seng Index fell 2.2%, as risk-off sentiment dominated following President Trump's fresh tariff threats overnight.

Write to Jiahui Huang at jiahui.huang@wsj.com

(END) Dow Jones Newswires

February 27, 2025 22:21 ET (03:21 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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The benchmark Hang Seng Index fell 2.2%, as risk-off sentiment dominated following President Trump's fresh tariff threats overnight. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Jiahui Huang at jiahui.huang@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 27, 2025 22:21 ET (03:21 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones & Company, Inc.\n</p>\n</font></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta content=\"text/html; charset=utf-8\" http-equiv=\"Content-Type\"/>\n<meta content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\" name=\"viewport\"/>\n<meta content=\"telephone=no,email=no,address=no\" name=\"format-detection\"/>\n<title>Xiaomi Launches New Luxury Car Model With Cheaper-Than-Expected Price Tag</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nXiaomi Launches New Luxury Car Model With Cheaper-Than-Expected Price Tag\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\">\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-02-28 11:21</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Jiahui Huang \n</p>\n<pre>\n \n</pre>\n<p>\n  Chinese consumer-electronics giant Xiaomi launched its new luxury electric vehicle with a lower-than-expected price tag, as competition ramps up in China's electric-vehicle market. \n</p>\n<p>\n  Xiaomi is selling its new four-door SU7 Ultra sedan at a starting price of 529,900 yuan, equivalent to around $73,000, Chief Executive Lei Jun said late Thursday. 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The benchmark Hang Seng Index fell 2.2%, as risk-off sentiment dominated following President Trump's fresh tariff threats overnight. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Jiahui Huang at jiahui.huang@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 27, 2025 22:21 ET (03:21 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones & Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0051755006.USD","symbol_name":"摩根大通中国A (dist)","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2514604033","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2514604033","pubTimestamp":1740712860,"columns":[{"name":"Product Release","id":31,"label_key":"productRelease"}],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Chinese consumer-electronics giant Xiaomi launched its new luxury electric vehicle with a lower-than-expected price tag, as competition ramps up in China's electric-vehicle market.Xiaomi is selling its new four-door SU7 Ultra sedan at a starting price of 529,900 yuan, equivalent to around $73,000, Chief Executive Lei Jun said late Thursday. 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That is 35% lower than the 814,900 yuan starting price quoted when presales started in October. \n\n\n  \"We believe SU7 Ultra could beat its [sales] target given the price cut and freebie offerings as well as a precise target marketing effect, which provides higher gross margin support for the overall EV business,\" Citi analysts said in a note. \n\n\n  Earlier this month, Lei had said Xiaomi's 2025 sales target for the SU7 Ultra model was 10,000 units. \n\n\n  Xiaomi is marketing the new sedan as a luxury model, targeting the high-end segment, which Deutsche Bank analyst Bin Wang says marks the company's entry into the luxury EV market. \n\n\n  The SU7 Ultra will be equipped with Xiaomi's autonomous-driving technology, which Wang thinks should help the company grow its market share. \n\n\n  Overall, Xiaomi said it aims to sell 300,000 vehicles in 2025. \n\n\n  Xiaomi's shares were last down 1.1% at 52.50 Hong Kong dollars, equivalent to US$6.75, in Friday trading. The benchmark Hang Seng Index fell 2.2%, as risk-off sentiment dominated following President Trump's fresh tariff threats overnight. \n\n\n \n\n\n  Write to Jiahui Huang at jiahui.huang@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 27, 2025 22:21 ET (03:21 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"productRelease","news_rank":0,"symbols":[],"gpt_button":0}}}