Xiaomi has just beaten Tesla on its own turf

The Xiaomi SU7 has recently surpassed the sales of the Tesla Model 3 in China, a significant milestone in the competitive electric vehicle (EV) market. In January, Xiaomi reported the delivery of more than 22,000 of its SU7, compared to 8,000 units of the Model 3.

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This success is largely due to a base price that is approximately $2,500 lower than that of the Model 3, as well as a larger battery that offers 10% more range and advanced technological features, such as a heads-up display and a mini refrigerator.

Xiaomi has proven to be a formidable competitor, producing a total of 70,000 SU7 in the first six months of production, thus surpassing Tesla in units manufactured.

Xiaomi is selling more than ever despite its long wait times

Despite the growing demand, the wait times for the SU7 are considerably longer, with periods of 31 to 34 weeks, while Model 3 buyers can receive their vehicle in just 1 to 3 weeks.

Both vehicles use advanced manufacturing technologies. The SU7 employs ‘hypercasting’ and a ‘structural battery pack’, drawing inspiration from Tesla’s methods. However, these advancements have not yet been incorporated into the Model 3, which could give Xiaomi a competitive edge in the future.

As Tesla faces fierce competition from local manufacturers, its position as a luxury brand in China has been eroded. To tackle the challenge, the company has announced plans to launch more affordable models in the second half of the year, although this could result in the cannibalization of its own products.

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With the production of the YU7, designed to compete with the Model Y, scheduled to begin this summer, Xiaomi’s trajectory in the electric vehicle industry suggests that it may be closer to fulfilling the “Tesla killer” prophecy than many thought.