Image source: Xiaomi Auto official website
Since the launch of Xiaomi SU7 on March 28, the heat and traffic have not subsided!On April 25, at the Xiaomi automobile booth of the 2024 (18th) Beijing International Automobile Exhibition, Lei Jun, founder, chairman and CEO of Xiaomi Group, announced the "SU7 report card". According to Lei Jun, as of April 24, the number of Xiaomi SU7 lock orders exceeded 75,723 units, and from the 20th to the 24th, nearly 6,000 new lock orders were added in 4 days; The Xiaomi SU7 was released 28 days ago, with a total of 5,781 units delivered.
"Xiaomi SU7 has achieved a breakthrough. According to the current order data, Lei Jun introduced that at present, the proportion of female buyers of Xiaomi SU7 is as high as 28%, female car owners are expected to account for 40%-50%, and BBA (Mercedes-Benz, BMW, Audi) user buyers account for 29%.
Lei Jun emphasized that the Xiaomi SU7 will be delivered when it is released, and the delivery will be on the scale. In terms of delivery rhythm, Xiaomi SU7 standard version and Max version will start delivery on April 18, the Pro version will start delivery at the end of May, and the monthly delivery will exceed 10,000 units in June, with an annual delivery target of 100,000 units.
Looking back at the development of Xiaomi's car manufacturing from the "Xiaomi SU7 report card announced":
-- Tens of billions of funds invested in the automobile industry
Judging from the investment data of Xiaomi Group, Xiaomi Yangtze River Industry Fund, Shunwei Capital and other Xiaomi investment entities, Xiaomi has been laying out the automotive field since 2011, and has completed 52 investment events in the automotive field before announcing in 2021, with a cumulative investment of 26.227 billion yuan. After the announcement of the construction of the car, the amount and number of Xiaomi investments from 2021 to 2022 reached a new high, reaching a maximum investment of 29.988 billion yuan in 2021 and 26 in 2022.
From the perspective of the proportion of the annual investment in the automotive field to the total annual investment amount of Xiaomi, 2016-2017 and 2019-2022 are the two main periods of Xiaomi's investment in the automotive field, among which before and after the time when Xiaomi announced the start of automobile manufacturing, the proportion of Xiaomi-related investment in the automotive field has increased to more than 40%.
——Three paths to help Xiaomi build an industrial chain ecosystem in an all-round way
On March 28, 2024, Xiaomi officially announced its first mass-produced smart electric vehicle, Xiaomi SU7, at the car press conference, which also marks the official entry of Xiaomi Group from an "investor" to a "competitor". Looking back at the layout of Xiaomi's smart car business, it can be found that Xiaomi's entry into the field of smart cars is not a whim, but by investing in industrial chain start-ups, focusing on core technologies, and deepening cooperation with supply chain enterprises, it has gradually entered the game to build an ecosystem covering the entire smart car industry chain.
Xiaomi's construction of the whole industry chain ecosystem of smart cars is mainly divided into three paths: first, investment first, through investment in start-ups, etc., to build an industrial chain ecology in an all-round way; Second, through the company's self-research, it has strongly cut into the core technology links such as motors, batteries, large die-casting, intelligent driving, and intelligent cockpits; The third is to deepen cooperation and adopt the method of direct cooperation with suppliers to empower the smart car business. From the perspective of link characteristics, Xiaomi's investment and self-research are mainly focused on core links such as electrification and intelligence, and cooperation is mainly focused on electrical and electronics, chassis/body interior and exterior decoration.
Through the three major paths, the upstream of Xiaomi Auto has covered battery materials, semiconductors and other related fields, the midstream has covered the core links such as electrification system components, intelligent cockpit systems, and intelligent driving systems, and the downstream has laid out the automotive after-sales service market to build an industrial chain ecosystem in an all-round way.
From the perspective of the main suppliers of Xiaomi Auto SU7, Xiaomi's investment company Zejing Electronics AR-HUD products have been supplied to Xiaomi SU7 models, and Xiaomi SU7 Pro and Xiaomi SU7Max are equipped with Hesai ultra-high-definition long-range lidar AT128, with high-end intelligent driving functions, and will be delivered in April and May 2024 respectively.
Luo Yonghao, a well-known entrepreneur, posted an article about Xiaomi SU7, saying, "All kinds of subsidies have been taken for almost 200,000 yuan, which is enough to eliminate most of the oil cars, miscellaneous trams, and trams that are not smart enough in this price range." Xiaomi is likely to follow the affordable mobile phone market and re-enact the epic scene of good money driving out bad money in the mass consumer car market. ”
Huatai Securities Research Report believes that Xiaomi released SU7, the pricing is cost-effective, and the orders are hot. The pricing is in line with the previous expectations of 200,000-300,000 yuan, considering that the range is 700KM-830KM, the pricing is cost-effective, and it also leaves the possibility for the subsequent production capacity ramp-up and the launch of a lower range version under fierce competition; Although the release price is not lower than 200,000 yuan, it is still highly competitive in terms of battery pack configuration, power, interior, and intelligence. In the future, it is not ruled out that with the ramp-up of production capacity or the intensification of market competition, there is a possibility of providing a lower range version.
Prospective Economist APP Information Group
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