Xiaomi SU7: 14 Months on the Market, No Competition, No Price Cuts – Lu Weibing: Utterly Dominant

In a recent discussion with investors, Xiaomi executive Lu Weibing delivered a confident assessment of the company’s electric vehicle, the SU7. Despite the entry of competitive models from rival manufacturers, Weibing expressed a conviction in the SU7’s market position, citing its continued strong demand and robust sales figures.

Weibing emphasized that the SU7 is experiencing rapid growth and enduring high demand levels. He also highlighted that the company is currently grappling with production constraints, with lengthy delivery times for the SU7. Addressing concerns about the potential impact of the launch of the upcoming Xiaomi YU7 on SU7 sales, Weibing stated that the company is not concerned about any negative effects, nor does it plan to reduce pricing to stimulate sales.

“The main factor is the current production bottleneck,” Weibing remarked. “In addition, the Xiaomi YU7 and the Xiaomi SU7 share the same platform, utilizing Xiaomi’s Modena architecture. This shared architecture provides significant advantages in terms of production capacity and component reuse.”

Weibing also underscored the competitive strength of the SU7. “Focusing on the SU7, consider that it was launched on March 28th of last year. In the 14 months since then, which competitor can truly stand in the same arena?”

“We’ve observed numerous competitors attempt to challenge us with various strategies, but to date, none has posed a significant threat. Many of these competitors see sales that are a mere fraction of the SU7’s, often less than 10% or even 5%,” Weibing continued. “This demonstrates the advantages of having strong product capabilities, which directly translates into competitive pricing and healthy profit margins.”