Video Summary
Here is a summary of the YouTube video review of the electric car, the Xiaomi SU7:- Xiaomi's SU7 was released on March 28, 2024. It's an electric car that aims to compete with Tesla and Porsche.
- Within a year of its release, 200,000 units have already been sold. By December, the SU7 was outselling the Tesla Model 3 in China.
- The SU7 has four versions with prices that range from $30,000 to $73,000.
- The SUV's base version can charge to 217 miles of range in just 15 minutes.
- An Ultra version has roughly 1500 horsepower and outperformed Tesla, Porsche, and Rimac cars on the Nürburgring.
- American automakers acquired the car for testing and benchmarking.
- Ford flew one from Shanghai to Chicago.
- Challenges facing Xiaomi's EV efforts include a government crackdown on self-driving technologies and fallout from a tragic crash.
- The Chinese EV market is brutally competitive, so success is not guaranteed.
- Xiaomi's CEO, Lei Jun, models himself after Steve Jobs, emulating him in style and branding.
- The company had partnered with BAIC Motors to make cars, but now holds its own manufacturing license in China.
- Chinese EV brands have all lost individual battles with the Model Y.
- The review also questions Xiaomi's marketing and if the company is "just a value play, a cost-saving play" and asks "How does Xiaomi breakthrough from the middle pack?"
- Xiaomi's Smart EV business has an 18.5% profit margin, but an 850M adjusted net loss.
