XIAOMI Showcases BEV Racing Car 'SU7 Ultra Prototype', Tells Interested Customers to 'Wait for Mass Production'

　　XIAOMI-W (01810.HK) +0.180 (+1.090%) Short selling $377.47M; Ratio 32.217% held its “Lei Jun Annual Speech 2024” event on Friday (19th), showcasing Xiaomi Automobile's newest pure electric racing car model, the Xiaomi SU7 Ultra Prototype.

　　Equipped with two XIAOMI's self-developed and self-produced super motor “V8s”, one “V6s” motor, as well as a track-specific high-power battery pack by CONTEMPORARY AMPEREX (300750.SZ) +0.270 (+0.143%) , the SU7 Ultra Prototype has a horsepower of 1,548 hp. Its fastest straight-line acceleration from zero to 100 km/h is 1.97 seconds, and can reach a speed of 200 km/h in 5.96 seconds.

　　Lei Jun, founder and chairman of the group, said that the prototype is made of carbon fibre in 24 parts of the body, which makes it very expensive. It is only used for research and development and testing purposes, and suggested that users should “wait for mass production” if they are interested in it. The Xiaomi SU7 Ultra Prototype is scheduled to be tested in October this year at the Nurburgring Nordschleife in Germany, the world's premier automotive performance test site. The goal is for the prototype car to become the world's fastest four-door electric vehicle to challenge the Nordschleife in 10 years.

　　He also pointed out that at the beginning of the year, the Xiaomi SU7 set a delivery target of 76,000 units for this year, which, netting ramp-up production, meant a target of 10,000 units per month. Now the target has been raised to at least 100,000, with a higher goal of 120,000. After the transformation of factories to raise production capacity, it is expected that the 100,000-car delivery target can be achieved in November ahead of schedule.

　　Lei admitted that the cost of pure electric cars is very high and only Tesla can make a profit in China. He therefore believed that only with reasonable pricing can the business grow steadily, so he believed the biggest problem before the product is officially launched is pricing.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-19 16:25.) (A Shares quote is delayed for at least 15 mins.)