Lei Jun, who had been shouting for a long time to compete with Porsche, turned around and killed BBA with a single shot. On the evening of February 27th,Xiaomi SU7 Ultra is officially launched, priced at 529,900 yuan.After relying on Xiaomi SU7 to compete for BBA's B-class car market, this time Lei Jun is eyeing BBA's C-class car market.

compared toThe pre-sale price when it debuted in October last year was 814,900 yuan.Lei Jun created the illusion to the outside world that he could save nearly 300,000 yuan by buying Xiaomi SU7 Ultra. Comparing the million-dollar price of Huawei Zunjie S800 and the starting price of nearly 800,000 yuan of Weilai ET9, Xiaomi SU7 Ultra once again grabbed the label of the most cost-effective luxury car.

In addition to the standard version, Xiaomi SU7Ultra also launched the "Racing Package" (priced at 629,900 yuan) and the "New York Limited Edition" (priced at 814,900 yuan). The latter will be officially launched and delivered after the New York challenge is completed.


Learning from the experience of deposits after the launch of Xiaomi SU7 in March last year, Lei Jun has reserved a new mechanism for refunding without reason for the 20,000 yuan deposit of Xiaomi SU7 Ultra this time if the order is not locked for 7 days. At the same time, for users who want to pick up the car earlier, Lei Jun also launched a 40,000 yuan deposit upgrade, and the order will be locked upon payment.

Of course, the first priority for picking up the Xiaomi SU7 Ultra is the group of blind car owners who paid a deposit after the pre-release in October last year. According to Lei Jun, these people can enjoy priority in property rights.

For this Xiaomi’s highest-priced product in history,Lei Jun has set an annual sales target of over 10,000 units for Xiaomi SU7 Ultra. Before the release, Lei Jun said he was 90% sure of achieving the target.

How difficult is it to sell 10,000 cars a year among luxury cars? Compared with the million-priced Porsche 718 series, it sold nearly 4,000 units in 2024, ranking first in the sales list of luxury sports cars.

If the outside world didn't know Lei Jun's confidence in daring to say that he would sell 10,000 units per year before, now, the price of about 500,000 yuan has undoubtedly become one of Lei Jun's greatest confidence.

According to data from Chedi, in January 2025, among models priced around 500,000 yuan, 19,710 Audi A6L units were sold, 12,100 units of the Mercedes-Benz E-Class were sold, and 10,625 units of the BMW 5 Series were sold.

What Lei Jun is really eyeing may not be Porsche's million-dollar supercar market, but the C-class market that BBAs are committed to. According to official data from Xiaomi,Two hours after it went on sale, Xiaomi SU7Ultra has sold more than 10,000 units, achieving Lei Jun’s annual sales target in one fell swoop, leaving only the remaining units to be delivered.

After the Xiaomi SU7Ultra pre-launch conference at the end of October last year, Lei Jun collected two voices regarding the pre-sale price of 814,900 yuan: one thought why Xiaomi is so expensive? One thinks Xiaomi is too cheap. “Why can’t Xiaomi sell it at this price?”

In order to solve his above-mentioned confusion, Lei Jun has done a lot of internal discussions and visits and surveys in the past three or four months, and finally found that one of the main people interested in Xiaomi SU7 Ultra is BBA car owners, but they also feel that the price of Xiaomi SU7 Ultra, which is around 800,000 yuan, is a bit expensive. This became a major reason why Lei Jun lowered the final selling price to 529,900 yuan.

But as more and more domestically produced new energy vehicles compete for the market share of BBAs, domestic BBA car owners may soon be running out of supplies.

Xiaomi SU7Ultra almost follows most of the design of Xiaomi SU7Max.The slight change is that a new aerodynamic package has been added, and the body size has been further increased. The length, width, height, and wheelbase are 5115mm, 1970mm, 1465mm, and 3000mm respectively.

At the same time, Xiaomi SU7Ultra has added carbon fiber, the favorite material of supercars.A total of 21 new carbon fiber accessories are added in the fully equipped state.Including the standard 24k gold carbon fiber logo, carbon fiber steering wheel, carbon fiber roof and fixed large rear wing of the whole series, the total area reaches 5.5m², which stacks up the full flavor of RMB and made the official slogan "the most luxurious performance car within 1 million".


In terms of power, Xiaomi SU7 Ultra is equipped with the same super three-motor system as the prototype car - two V8s motors and one V6s motor. The maximum horsepower reaches 1548PS, the fastest acceleration from 0-100km/h only takes 1.98 seconds, and the top speed can reach 350km/h. It is currently the fastest four-door production car on the surface.

In terms of battery life, Xiaomi SU7Ultra is the world’s first CATL Kirin II, with a CLTC battery life of up to 630km.

Ten minutes after the pre-sale of Xiaomi SU7 Ultra started in October last year, the small order quantity exceeded 3,680 units. According to official data, female users accounted for more than 10%.

Lei Jun once again used his magic weapon to please female users.After Xiaomi SU7 made its mark with its sun protection function, this time on Xiaomi SU7 Ultra, Lei Jun specially explained the passenger vanity mirror, which supports three-level adjustment of color temperature and brightness.

Even the three new colors of Xiaomi SU7Ultra were explained by Lei Jun to meet the needs of more female users (only yellow and silver were available initially, and green, white and black were added later).


In addition to using performance and carbon fiber materials to highlight the noble price of the car, Lei Jun also took out the latest intelligent driving system in the tool box.

Xiaomi SU7 Ultra comes standard with the Xiaomi HAD end-to-end full-scenario intelligent driving system. "In the past two days, the discussion on intelligent driving has been particularly hot, and it has become the commanding heights of competition for new energy vehicles."

One of the backgrounds for Lei Jun’s remarks is that BYD has launched high-end smart cars in full quantity, and Tesla FSD (fully driverless) has officially entered China.

At a time when the development of large AI models is in full swing, Lei Jun said that Xiaomi is expected to spend 30 billion yuan on research and development in 2025, a quarter of which will be used for AI, and the bulk of AI may still be invested in intelligent driving.

Different from Tesla's pure visual solution, Xiaomi uses a lidar solution on high-end models.Reflected on Xiaomi SU7Ultra, this model is equipped with 1 128-line lidar, 3 millimeter wave radars, 11 high-definition cameras and 12 ultrasonic radars. Combined with dual NVIDIA DRIVE Orin chips, the total computing power of intelligent driving reaches 11.45EFLOPS.

In order to train Xiaomi Auto’s end-to-end intelligent driving capabilities,Lei Jun said that the number of video clips Xiaomi Motors has put into training has reached 10 million.

When Musk talked about the importance of data for autonomous driving training, he once gave a set of judgment data: "Training with 1 million video clips is barely enough; 2 million video clips, slightly better; 3 million video clips, you will feel Wow; when it reaches 10 million, it becomes unbelievable."

However, due to policy regulations, the name of FSD, which first entered the country, was officially changed by Tesla from "FSD Fully Autonomous Driving" to "FSD Intelligent Assisted Driving Function".


In the interview session after the release of the 2024 financial report, Musk responded to "What is one of the biggest difficulties for FSD to enter China": "China is a huge market, and we do face some challenges, because China does not allow us to transfer training data abroad, and the US government will not let us train in China."

Due to the lack of test data on Chinese roads, Musk's current solution is to find video material from the Internet. He said: "We found Chinese road videos on the Internet for training and then put them into the simulator. China's bus lanes are one of the biggest challenges for FSD to be implemented in China. No matter what, we will solve this problem."

Due to data defects, FSD conditions occurred frequently in some car owners' actual measurements, triggering various violations, such as misidentification of traffic lights, compaction lines, etc.

But this battle over intelligent driving is far from over.As Tesla FSD collects more and more localized data in China, ensuring that the system can accurately understand and comply with domestic traffic rules, its intelligent driving capabilities will also increase as the amount of data collected increases.

For Musk, Tesla’s bigger challenge in smart driving comes from price.The optional price of up to 64,000 yuan makes Tesla FSD the most expensive intelligent driving system in the current Chinese market.

Lei Jun did not forget to comment on this, "FSD has been particularly popular recently, but Tesla charges 64,000, and our HAD is free for life."

In addition to increasing the price of smart driving, domestic car companies are also trying to launch "smart driving insurance" ahead of Tesla to dispel users' concerns about the safety of high-end smart driving.

At the end of last year, Huawei Hongmeng Smart launched worry-free smart driving service rights, and Xpeng also announced that it will launch customized smart driving insurance in conjunction with leading insurance institutions in the near future.

Now, Xiaomi has also stated that it is working with leading insurance companies to provide high-quality smart driving protection services, which are expected to be released in April.

But as the price reaches the 500,000 yuan range, the upcoming test of Xiaomi SU7 Ultra is no longer just a competition of control performance and intelligent driving capabilities, but also a comprehensive consideration of interior space and ride comfort.The latter, for a car that focuses on performance and can go directly to the track, is obviously not a longboard.

What's more important is that within 2 hours of the sale, the number of units exceeded 10,000.Xiaomi's automobile production capacity problem has once again become prominent.

In the past 2024, Xiaomi's annual delivery sprint target has been rewritten twice: when the first quarter financial report was released last year, Xiaomi announced a new target that increased the annual vehicle delivery target from 100,000 units to 120,000 units; when the third quarter financial report was released last year, this target increased again from 120,000 units to 130,000 units.

By the end of 2024, within 9 months, Xiaomi SU7 had accumulated orders for more than 248,000 units and delivered more than 135,000 units, becoming another hot-selling miracle in the industry. Driven by its automotive business, Xiaomi's stock price has also surged, leading many domestic technology Internet companies. On the night of the launch of Xiaomi SU7 Ultra, Lei Jun was briefly reported by the media as China's new richest man. However, at the press conference, Lei Jun did not mention the richest man.

After relying on Xiaomi SU7 to sell 20,000 units per month,Lei Jun has set a new task of hitting the delivery target of 300,000 units in 2025. The difference is that this year’s delivery target of 300,000 units will be shared by Xiaomi SU7, Xiaomi SU7 Ultra, and Xiaomi YU7.


In addition to the official delivery of Xiaomi SU7 Ultra in March, Xiaomi YU7, the first new SUV shown in early December last year, is expected to be officially launched in June or July 2025.

However, Xiaomi SU7 will still bear the most pressure. After achieving monthly sales of 20,000 units for the first time in October last year, orders for Xiaomi SU7 are still flowing in.

"When (Xiaomi SU7) was first sold, there were 88,000 orders placed. For 60% of the orders, the owners placed orders directly without even seeing the car or test driving it. And my colleagues said that what is even more exaggerated is that as of today, 30% of people bought it directly without test driving it." Lei Jun said in a live broadcast in early January.

In the industry, orders placed directly without a test drive are called angel orders. The outside world's pursuit of Xiaomi SU7 can also be seen from the delivery cycle. Although it has been officially launched for nearly a year, theCurrently, users who place an order for Xiaomi SU7 still have to wait over 20 weeks on average to pick up the car.

Currently, according to the Xiaomi Auto APP, if you order the standard version of Xiaomi SU7, it is expected to be delivered in 32-35 weeks after the order is locked. Xiaomi SU7 Pro will have to wait 30-33 weeks for delivery, and the top-end version Xiaomi SU7 Max will have a waiting period of 26-29 weeks.

As Xiaomi SU7 Ultra and Xiaomi YU7 are successively launched and delivered, it can be expected that Lei Jun’s production capacity crisis will still be difficult to overcome in 2025.