Source: Xiaomi

On the evening of February 27, Xiaomi CEO Lei Jun announced the upgraded model of the Xiaomi SU7—Xiaomi SU7 Ultra, priced at 529,900 RMB (c. 72,700 USD), significantly lower than the previously disclosed pre-sale price of 814,900 RMB (c. 111,800 USD) last year.

Lei Jun stated that the sales target for the Xiaomi SU7 Ultra this year is 10,000 units, with a 90% confidence in achieving this goal.

According to Xiaomi's official WeChat account, over 10,000 orders were placed within 2 hours of the Xiaomi SU7 Ultra's launch.

The Ultra has been so far extremely well received in China, continuing Xiaomi’s success with the SU7 base model.

The Xiaomi SU7 was first officially launched on March 28, 2024 and deliveries began on April 3rd. Since then, sales have ramped up to consistently above 20,000 units monthly.

In January, the SU7 sold at nearly 3:1 ratio in China compared to the Tesla Model 3, which sold 8,009 units domestically and exported another 22,996 units.

Lei Jun emphasized that the original intention behind the Xiaomi SU7 Ultra was to create a new luxury car for this generation, "with performance comparable to Porsche, technology exceeding Tesla, and luxury rivaling Mercedes-Benz, BMW, and Audi (BBA)."

Source: Xiaomi

The Xiaomi SU7 Ultra is equipped with the same three-motor system as the prototype car, consisting of two V8s motors and one V6s motor, featuring a self-developed three-motor vector torque control with a peak power of 1,138 kW and a peak torque of 1,770 Nm.

The hardware includes 27 sensors, including one 128-line LiDAR, three millimeter-wave radars, eleven high-definition cameras, and twelve ultrasonic radars.

The Xiaomi SU7 Ultra also features two NVIDIA Orin chips with a combined computing power of 508 TOPS.

The Xiaomi HAD intelligent driving system has already achieved parking space-to-parking space capability, enabling intelligent driving with a single button.

Lei Jun noted that the Xiaomi SU7 Ultra prototype has recorded a time of 6'46''8746 on the Nürburgring track in Germany, making it the fastest four-door car on the track.

Source: Xiaomi

"The Xiaomi SU7 Ultra aims to become the fastest mass-produced four-door car on the planet, equipped with Xiaomi's super three-motor system, standard racing version cooling and braking systems, Nürburgring-tuned chassis system, and capable of hitting the track with the standard version."

In addition to the SU7 Ultra, the launch event also introduced the 15 Ultra smartphone, Xiaomi earphones, Xiaomi dehumidifier, and Xiaomi central air conditioner.

The Xiaomi 15 Ultra is equipped with the Snapdragon 8 Supreme Edition chip, supports no-network communication, challenges the industry's longest 7km two-way communication, and features a Leica quad-camera, supporting full-focus 8K/4K video recording, with a starting price of 6,499 RMB.

Lei Jun stated that the Xiaomi 15 Ultra and SU7 Ultra are the most high-end products in Xiaomi's fifteen-year history and mark the beginning of Xiaomi's journey towards the "ultra high-end" market.

He also mentioned that Xiaomi Group's R&D investment for the five years from 2021 to 2025 is expected to reach 105 billion RMB, with an estimated 30 billion RMB in 2025, and AI and related businesses accounting for a quarter of the investment.