Xiaomi
With Tesla (and Mercedes) in trouble, Xiaomi saw an opportunity: it reduced the price of luxury electric by 35%.
Xiaomi today announced a 35% reduction in the price of the Su7 Ultra luxury electric, to reinforce competitiveness against Tesla and Porsche in the high range market.
The price cut announcement to 529 thousand yuan (69.530 euros) caused an immediate reaction in the market, with more than 6,900 orders in the first ten minutes, the company said on social networks.
“Our mission is to allow more people who follow us to buy luxury cars,” said the founder of Xiaomi, Law Jun.
The strategy aims attract customers from brands like BMW, Audi and Mercedes-Benzwhile reinforcing Xiaomi’s position in the luxury segment, said the Chinese technology founder at the Mi 15 Ultra Mill 15 Ultra event in Beijing.
By 2024, the standard SU7 version had already surpassed Tesla Model 3 in China, while the SU7 Ultra, before the discount, was in the same price range as Tesla Model S Plaid.
In October, Xiaomi stated that its model surpassed Porsche Taycan Turbo in terms of acceleration and top speed.
Among the updates, the SU7 Ultra offers Materials considered luxurybetter seats and a high quality audio system.
According to the Xiaomi Su7 can stop at 180 km/h ten times in a row without decreasing braking efficiency. The car has a pneumatic double camera suspension that can adjust the stiffness and distance to the ground of the car independently. It also has a cooling system in track version.
Xiaomi is also maintaining a limited edition From the model at the original price of 814,900 yuan (108 thousand euros), although without revealing the exact specifications.
Law Jun stressed that buyers who make orders from the SU7 Ultra before the end of March will receive additional benefitsas free lifetime access to the Xiaomi Had smart driving system, which costs 26,000 yuan (3,411 euros).
Law also referred to competition with Tesla, noting that Elon Musk’s company requires an additional payment of over 60,000 Yuan (7,873 euros) for the recent update of the Autopilot Assisted Autop Driving System in China.
The strong competition from Xiomi arrives at a time when the 45% sales of its electricity in Europe.
Mercedes I have left
Mercedes-Benz today began a series of dismissals that could affect up to 15% of German car manufacturer workers in China, in the face of the fall in sales, partly caused by the rise of local competitors.
The Specialized Portal Autopix has advanced that the main affected departments will be sales, financing and components.
In 2024, the Mercedes-Benz’s turnover in China fell 8.5%, In homologous terms, due to a 7.3% reduction in passenger car sales and 19.7% in van sales.
China is the largest market of the German brand, with more sales of passenger vehicles than Europe as a whole, so these numbers weighed on the results of the year, which record a global break of 4.5% in revenues and 3% and 9.4% in sales of passenger vehicles and commercial vans, respectively.
Despite the decline in China, which the company itself attributes to “High competition”, Chinese financial news portal Yicai stressed that Mercedes-Benz was able to maintain the position of largest luxury car salesman in the Asian country in 2024.
In September, the company announced an investment equivalent to about 1,78 billion euros to increase the range of vehicles which produces in China, advancing “a new chapter” from 2025 with the production of electric models, a segment in which local companies, such as BYD, are ahead of foreigners.