On April 2, JPMorgan Chase issued a report stating that Xiaomi Group’s electric vehicle SU7 was priced attractively and had strong specifications and equipment. It believed that the SU7 had a strong start and had received 50,000 orders in 27 minutes of pre-sale. JPMorgan Chase said that although Xiaomi's electric vehicle business will suffer losses in the first few years, investors are expected to focus on the sales momentum of electric vehicles to prove that its electric vehicle development strategy is increasingly accepted, so it maintains its overweight position rating, with a target price of HK$21.
According to the latest order data, as of the early morning of April 2, the number of Xiaomi SU7 orders has reached 40,000. In addition, the delivery cycle of the car has been further extended.
On March 31, the Xiaomi SU7 standard version is expected to be delivered in 16 to 19 weeks after ordering, the Pro version is expected to be delivered in 17 to 20 weeks, and the Max version is expected to be delivered in 26 to 29 weeks. As of the morning of April 2, the above-mentioned delivery cycles have been extended to 20~23 weeks, 19~22 weeks and 28~31 weeks respectively.
Editor: Tan Chenxi