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  • Alex Onea

The Rise of Xiaomi SU7: How Tesla Faces Competition in the Electric Car Market

Recently, we had the pleasure of seeing the presentation of the new Xiaomi SU7 electric car at this year's MWC event in Barcelona. Since then, many of us have started thinking about the impact this electric car will have. Now, after some time has passed, we have information confirming exactly what we thought at the time of the presentation, that the Xiaomi SU7 will be a significant competitor in the market for Tesla.

In the following, we present exactly how we see the evolution of the Xiaomi SU7 electric car on the market, its impact, price, and delivery. The new electric car, the Xiaomi SU7, has quickly become popular, surprising many in the industry. This success has impacted Tesla, causing a big problems for them. Let's see the latest news on how Xiaomi's affordable SU7 is changing the electric car market and competing with companies like Tesla.

Xiaomi's Success

Since the Xiaomi car went on sale, we've noticed some surprising events. Xiaomi's latest electric car, the SU7, has been a hit, selling a whopping 88,989 units in just one day after its launch in China.

Impact on Tesla

For those following Tesla's stocks, they're probably aware that they're not heading in a good direction. At least for now. Tesla's stock value has declined following the success of Xiaomi SU7, dropping by 5.37%. Over the past month, Tesla's stock has decreased by approximately 18.48%. Tesla faces challenges in the Chinese market, with modest delivery growth attributed to strong competition, including Xiaomi's entry into the electric car market.

Price of Xiaomi SU7

At the time of the launch of the Xiaomi SU7 electric car at the MWC 2024 event, we didn't have information about the price, but now we know that the Xiaomi SU7 is priced competitively at 215,900 renminbi (RMB), approximately 27,709 euros, compared to higher-priced electric car models like Tesla Model S and Porsche Taycan.

Delivery Timeframe

The Xiaomi SU7 is currently available only in China, there are plans to release it for sale worldwide. From what we know, people in Spain will soon be able to see it on their roads. Despite high sales, customers will have to wait for delivery, with estimates ranging from 18 to 30 weeks depending on the SU7 model.

In conclusion, we are happy to see how the Xiaomi SU7 electric car has made a remarkable entry into the electric car market, shaking up the industry and challenging well-known players like Tesla. With its affordable pricing and impressive features, the SU7 signifies a new era in electric vehicle innovation. As competition intensifies, it remains to be seen how Tesla and other companies will respond to this dynamic shift in the market.

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