Xiaomi making a Tesla Model Y competitor and a cheaper SU7

While firing on all cylinders to make as many units of its debut SU7 electric sedan, Xiaomi is not resting on its laurels, it seems.

Next year, Xiaomi will reportedly launch an electric SUV that is likely to be a direct Tesla Model Y competitor, while afterward it will introduce its first cheap electric car for the mass market.

Its inaugural electric vehicle is selling like hot cakes, riding on the brand recognition Xiaomi achieved with its phones like the Redmi Note 13 Pro that now manifests in its value-for-money EV.

The current wait time for a base RWD SU7, for instance, is up to 32 weeks. Those who want to get an SU7 Pro will have to wait minimum 28 weeks for delivery, while the high-end SU7 Max with its 2.8 seconds acceleration has up to 35 weeks of wait time.

NIO is even giving SU7 buyers incentives to lure them away from an SU7 purchase, while Xiaomi's CEO suggested to customers a number of competing EV models from NIO, BYD, or XPeng to buy if they don't want to wait months for delivery.

While the Xiaomi SU7 Pro starts from the equivalent of $33,940, the mass market model will be gunning for a price point of about $20,000. By the time it launches, Xiaomi will reportedly try to lower the price of the SU7, too, realizing economies of scale from its mass production.

Mum's the word on the exact pricing of Xiaomi's 2025 SUV, but it should be in the SU7 ballpark, as the market for electric crossovers is getting crowded.

BYD, for instance, just teased another Model Y competitor - the 2024 Sea Lion - which is cheaper and more luxurious than Tesla's pride and joy. NIO is also preparing to clash the debut vehicle in its new midrange Onvo brand with the Model Y directly.

Coincidentally, in 2025 Tesla is said to release the Model Y Juniper refresh. It will allegedly try to make it cheaper by applying manufacturing savings learned from the production of the Robotaxi, so Xiaomi will have to be careful how it positions its first SUV in terms of pricing.

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