AutoBeta(AutoBeta.net)11/15 Report--

On November 15th, Xiaomi SU7, the first model of Xiaomi car, was finally unveiled. In the latest issue of the Ministry of Industry and Information Technology declaration catalogue, the Tramway report obtained the declaration map of Xiaomi's first model, which is a pure electric car, the product models are BJ7000MBEVR2 and BJ7000MBEVA1, and the enterprise name is Beijing Automobile Group off-road vehicle Co., Ltd. This also means that Beijing Automobile Group off-road vehicle Co., Ltd. has become the contract manufacturer of Xiaomi Automobile. The former is a wholly owned subsidiary of Beijing Automobile Group Co., Ltd., and the actual control is Beijing SASAC.

The declaration chart shows that the first model of Xiaomi is an electric sedan with models of SU7 and SU7 Max. In terms of appearance, the overall design language of Xiaomi SU7 is very concise and dynamic, the body profile is similar to Porsche Taycan, using slip-back styling design, its direct use of Xiaomi car logo. In the rear part, the millet SU7 uses the through taillight group shape, the rear logo is "xiaomi" pinyin style, the lower left corner is the "Beijing Xiaomi" logo, and the lower right corner is the "SU7" logo. It is worth noting that the rear bumper adds decorations of the same color as the car body to show a more dynamic style.

In terms of size, the length, width and height of Xiaomi SU7 are 4997 SU7 1963 / 1440mm, wheelbase 3000mm. In terms of power, Xiaomi SU7 is equipped with ternary lithium ion battery (Ningde era) and lithium iron phosphate battery (Xiangyang Fudi battery). The front and rear motor power is 220kW/275kW.

On March 30, 2021, Xiaomi founder Lei Xuan Xiaomi Group built a car. At the press conference, Lei Jun said: "Xiaomi car is the last major start-up project in my life. I am willing to bet all my reputation and lead the team to fight for Xiaomi car." It is estimated that the investment in the next 10 years will be 10 billion US dollars.

In September 2021, Xiaomi Automobile Co., Ltd. was officially established with a registered capital of 10 billion yuan. Lei Jun, chairman and CEO of Xiaomi, served as the legal representative. In November of the same year, the Management Committee of Beijing Economic and technological Development Zone signed a contract with Xiaomi Science and Technology, officially announcing that Xiaomi Motor had settled in Beijing Economic Development Zone. According to the plan, the Xiaomi automobile project will build Xiaomi automobile headquarters, sales headquarters and R & D headquarters, and will build a vehicle factory with an annual output of 300000 vehicles in two phases, with a production capacity of 150000 vehicles in the first and second phases respectively. The first car is expected to be offline and mass produced in 2024. At present, the first model of Xiaomi car has landed at the Ministry of Industry and Information Technology, indicating that it is qualified for production and sales. It is reported that Xiaomi car will be officially launched in February 2024.

In fact, the market is more worried about whether the Xiaomi car will be "stillborn" than the production power and the time to build the car. For a long time, how to achieve mass production of Xiaomi cars has been an issue of great concern to the outside world, and with the tightening of policy, the application for production qualification has become particularly difficult, so for the mass production of Xiaomi cars, it is more inclined to contract production. Xiaomi has previously sought the cooperation of other mainframe factories due to the problem of capacity climbing. Among them, automakers such as BAIC, brilliance, Chery, Haima and Zhongtai have discussed potential production cooperation, but officials have denied it. Today, information from the Ministry of Industry and Information Technology has confirmed that the production enterprise of Xiaomi is Beijing Automobile Group off-road vehicle Co., Ltd., which proves that Xiaomi is produced by BAIC off-road, but the production address shows that "No. 21 Huanjing Road, Beijing Economic and technological Development Zone" is still the site of Xiaomi's self-built factory.

Is Xiaomi the first car for young people? In view of the cost-effective market of Xiaomi mobile phones, many consumers hope that Xiaomi cars can also give a surprise price, but Xiaomi SU7 is a medium and large sedan with a length of 4997mm and wheelbase 3000mm, coupled with the market speculation that the power combination of 100kWh battery + 800V, the overall vehicle quality and configuration, the main selling model is about 25-300000, and the top model may reach 400000. Of course, we do not rule out the possibility that Xiaomi will launch a low-price model. After all, the number "7" should be regarded as a middle-and high-end product.

What are the advantages of Xiaomi car? At present, the information about Xiaomi cars is still very limited, it can be speculated that, as a technology company to build cars, Xiaomi cars should have an in-depth layout in terms of intelligence, especially in terms of self-driving. Previously, Lei Jun publicly said that Xiaomi self-driving will adopt full stack self-development, has now entered the testing stage, the goal is to enter the first camp of the auto self-driving industry in 2024. In addition, Xiaomi SU7 should support 100kWh battery + 800V, mileage and charging speed should be guaranteed, but it is not clear whether Xiaomi will build its own overcharge pile.

In fact, Xiaomi cars still have great similarities with the current Huawei, except that Xiaomi makes cars in the bright place, while Huawei is behind it. Xiaomi and Lei Jun are the labels of Xiaomi cars, which can bring considerable traffic like Huawei, and at present, Xiaomi mobile phone stores are all over the country, and Xiaomi cars do not rule out the possibility that Xiaomi cars will guide their products to "Xiaomi Home". So as to save the location, construction and other painstaking and costly things, but also let users quickly remember Xiaomi cars.

Whether the millet car can be popular or not, in fact, it depends on the price to win. If the millet SU7 sells for about 150000 yuan, then the fire is inevitable. After all, there are no inappropriate products, only inappropriate prices. From the market point of view, the competition in the new energy vehicle market in 2024 will only be more fierce, but the market pattern has been basically determined. BYD, Tesla, Xiaopeng and other manufacturers are all competitors that Xiaomi can not ignore, but there is no turning back.

However, Lei Jun still has a lot of confidence in Xiaomi building cars. Lei Jun said at an internal meeting that Xiaomi would sell 100000 cars in the first year, and then maintain the pace of pushing one new car a year for the next three years, with a total sales of 1 million. Lei Jun has great expectations for Xiaomi car, as to whether Xiaomi car can achieve the desired goal, the market will naturally have the answer.

Earlier, Lei Jun said in an interview with the media that doing the automobile business is not for the "limelight". Now the electric car has changed from the machinery industry to the information industry. Coupled with the fact that some peers are already doing it, Xiaomi will be eliminated if it is not done. Xiaomi, from smart phones to smart homes and smart offices, is a fully intelligent ecology. If it is well integrated with electric cars, it will have a strong expansibility. When Guan Xuan entered the automobile industry market, Lei Jun also set up Flag: this is the last major start-up project in his life, and he is willing to bet all his reputation to lead the team to fight for Xiaomi car. As for the measures that may be encountered on the way to building cars, Lei Jun said bluntly, "We can afford it."

On January 4, 2021, Xiaomi Group closed at HK $35.3, the highest since its listing. On that day, Lei Jun seriously said to his employees, "Futu, Tiger, flush, Snowball, Big Wisdom, and optional stocks. All these stock software can be uninstalled. I don't have to care about the stock price anymore!" However, it was also from that day that Xiaomi Group's share price began to decline. Shares in Xiaomi Group rose 2.2 per cent on March 30, 2021, while as of the latest trading day, Xiaomi shares closed at HK $16.80, with a total market capitalization of HK $421.214 billion, down 52 per cent from its peak.

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