Don’t wait, the 199,000 millet car may not work.

The mobile phone battle has not been finished yet, and Lei Jun is about to enter the automobile circle. From the official announcement of the car to today, for 1003 days, this is the first time that Lei Jun has held an automobile technology conference. For three hours, he passionately exported almost all the technical accumulation of Xiaomi since its founding 13 years ago. However, some people in the automobile industry reminded that from the experience of most of the best-selling models in the past, there must be trade-offs if you want to build a car successfully. "Xiaomi’s marketing direction is right, but it remains to be seen whether it can reduce the dimension and crack down on competing products."

1,000 days after the announcement, Lei Jun, founder, chairman and CEO of Xiaomi Group, finally ushered in the first public appearance of Xiaomi Automobile.

On December 28th, Xiaomi Automobile Technology Conference was unveiled at Beijing National Convention Center. In order to welcome this afternoon activity, Lei Jun was so excited that he woke up early in the morning and began to interact with netizens in Weibo after 6 o’clock.

This conference can be said to be the highest-profile activity of Xiaomi in the near future. The previous week, Xiaomi officials made intensive publicity, and Lei Jun himself frequently sent Weibo to share his thoughts on Xiaomi. He not only called the SU7, the first car of popular science Xiaomi, to the netizen "Su Qi", but also said that SU7 hoped to be comparable to Porsche Taycan Turbo in mechanical quality such as driving, and hoped to be comparable to Tesla Model S in intelligence, and at the same time had the most advanced technology and the richest ecology.

The day before the conference, Lei Jun paid tribute to BYD, Weilai, Tucki, Ideality, Huawei and Contemporary Amperex Technology Co., Limited in Weibo. In the evening, many netizens in Beijing saw on the street that Xiaomi Automobile played a tribute slogan on several outdoor billboards. This "pattern opening" marketing initiative instantly attracted great attention in the whole network.

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At noon on December 28th, two hours before the official opening of the conference, Xiaomi Auto officially released a wave of official real shots of Xiaomi SU7, which pushed this round of momentum to the highest peak.

With such a big battle, many people in the industry exclaimed that "Xiaomi Automobile is afraid of not starting at 500,000", and the market is also curious. What surprises can Lei Jun bring to everyone at this "simple conference" that only talks about technology and does not talk about price? In the Red Sea market where new energy vehicles are fighting hand-to-hand and fighting price wars, can Xiaomi still get a piece of the action?

01, a publicity conference in advance.

This is the second time that Xiaomi has held a press conference at the Beijing National Convention Center this year. In August this year, Lei Jun’s fourth annual speech was held here. However, in that speech, Lei Jun did not disclose the new progress of Xiaomi Automobile, but left all suspense to the conference at the end of the year.

Choosing to hold a press conference at the National Convention Center shows the importance Xiaomi attaches to this conference. In the past, Xiaomi’s new product launch conference was generally held in Xiaomi Science and Technology Park, and the scale was relatively small. Even the Xiaomi 14 series launch conference, which was expected by Lei Jun, was held in the park.

In order to successfully enter the automobile circle, Lei Jun paid a high-profile tribute to BYD, "Wei Xiaoli" and Huawei, which not only attracted traffic for him, but also caused some disputes in the industry. Everyone wondered why Xiaomi only chose the above five manufacturers to pay tribute, but did not pay tribute to other mainstream automakers. Even for this reason, on the 28th, Meizu CEO Mi Xiaomi Automobile also boarded a hot search in Weibo.

At 2 o’clock on the afternoon of December 28th, at the beginning of the conference, Lei Jun took the lead in explaining: "In fact, everyone really misunderstood, and I have always been in awe of the entire automobile industry." Xiaomi paid tribute not only to the above five manufacturers, but also to the pioneers of all new energy vehicles. He said that after he officially decided to build a car, he went door-to-door to visit the domestic mainstream car brands for the first time and expressed his respect in person.

However, compared with the previous marketing campaign, in fact, Volkswagen is still more concerned about the "hard power" of Xiaomi Automobile.

Judging from the public declaration information, posters and "leaked" information in the past, Xiaomi SU7 has no more secrets. Although mobile phone manufacturers have always been controversial about building cars, the consensus in the industry is that smart cars will definitely fight fiercely around smart cockpits, autonomous driving and big ecology in the future.

Therefore, this time, all parties will focus on the ecological and interconnected functions of Xiaomi’s "people and cars". At the press conference, Lei Jun did release several big moves.

He said that at the end of 2022, Xiaomi Automobile developed the world’s fastest millet super motor V6, with a maximum speed of 21,000 rpm, surpassing Tesla. As a result, I didn’t expect to be cut off by a friend. Huawei had previously released a 22,000-rpm motor.

So this time, Lei Jun brought a self-developed and self-produced super motor V8s, with a maximum speed of 27,200 rpm, saying that this is the peak performance of the global motor and will get on the bus in 2025. This is not finished. Lei Jun also disclosed the laser rotor winding technology that Xiaomi is pre-researching, which can achieve the highest speed of the motor of 35,000 rpm.

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In addition, Lei Jun also showed Xiaomi’s 9100-ton super die casting, saying that the technology surpassed Tesla. In terms of intelligent cockpit, Xiaomi car is equipped with Snapdragon 8295 cockpit chip, and Xiaomi’s self-developed 澎湃 OS is also on the bus for the first time, and all the five core technical features are realized in the car.

In order to give Apple users a good experience, Xiaomi Auto also supports CarPlay, AirPlay and iPad. The release of a number of hard-core technologies has made many rice noodles exclaim: "There is the taste released by Xiaomi 1 generation."

In the eyes of the industry, Xiaomi has made some efforts in intelligent driving, and the SU7 demonstration car on the scene is also "unmanned" on its own stage. At present, technologies such as zoom BEV, large road model and super-resolution network occupation have been announced, and two NVIDIA DriverOrin chips have been used, finally reaching 508 TOPS.

Nowadays, the popular cross-floor parking service and automatic parking in the three-dimensional mechanical garage can all be realized, and Lei Jun released the rhetoric that "2024 will be the first camp in the industry".

In the second half of the conference, Lei Jun brought two models of Xiaomi Auto, SU7 and SU7 Max. There are indeed many Porsche shadows, and many users exclaimed that this is the first "Porsche" for young people.

After the press conference, Xiaomi Automobile arranged an experience session, and many media and "rice noodles" lined up on the first floor of the National Convention Center, waiting for a glimpse of the truth. However, from the end of the press conference at five o’clock until nearly six o’clock, there were still many queuing users who failed to enter the experience room.

02. Pricing remains the key.

Before the press conference, Xiaomi employees refused to talk about all the news related to cars.

Since several major leaks occurred recently, Xiaomi’s internal control has been particularly strict. Even when the word "car" is mentioned, employees are very nervous. "The interior is in a hurry, and they are all afraid of leaking secrets. Many people have been taken away for investigation. Now everyone is particularly careful."

Now, the press conference is over, and the employees are finally relieved. "The amount of information released is still quite large, and then it depends on how the reactions of all parties are."

A source told the "city circle" that many internal leaks had been held accountable before, and employees were afraid to speak out. He only knows that Xiaomi has been working overtime a lot recently.

In fact, this kind of work intensity has been going on for a long time inside Xiaomi, and Lei Jun has been personally leading the team. In January of this year, a car blogger revealed that Xiaomi Automobile was conducting a winter test. Before this conference, the market also reported that Xiaomi Automobile was conducting the second winter test.

Lei Jun’s joining the army of car-making has long been a clue. As one of the first Tesla owners in China and an investor in Xpeng Motors and Weilai Automobile, after Xiaomi Group went public in 2018, Lei Jun personally visited these two companies in July and November of that year, and he was silently wondering how likely it was for Xiaomi to build a car.

After 85 visits and communication in the industry, in-depth communication with more than 200 senior people in the automobile industry, four internal management discussions and two formal board meetings, Lei Jun made a formal decision to enter the smart electric vehicle market.

However, looking at the automobile market in China in recent years, there is no 2021 "volume" announced by Lei Jun when Geely built a car in 1986, BYD built a car in 2003, Wei Xiaoli built a car in 2015, and Huawei established a car BU in 2019.

At that time, Lei Jun regarded building a car as the last venture in his life, saying that he would gamble on all the reputations accumulated in his life and fight for Xiaomi Automobile.

"I am very aware of the risks. It takes tens of billions of dollars to build a car, and it usually takes three to five years to get results. But Xiaomi now has money and can afford it. He doesn’t support rice noodles." At the Xiaomi spring new product launch conference in 2021, Lei Jun was somewhat desperate.

Two days after the official announcement of building the car, on April 2, 2021, a photo of Zhang Leijun with Li Bin, Li Xiang, He Xiaopeng and Wang Chuanfu began to spread widely in the internet circle. According to rumors, Lei Jun had a long talk with Wang Chuanfu in Beijing Xiaomi Science and Technology Park. In addition, according to the famous brand photos, there are also Wang Xing, founder of Meituan, and Shen Nanpeng, partner of Sequoia Capital, who participated in this opportunity.

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After a circle of investigation, Lei Jun, the "Xueba", was more sure that Xiaomi had many natural advantages in making cars. "Because the essence of smart electric vehicles today is the integration of the automobile industry and the consumer electronics industry, which is a big integration." In an interview with CCTV not long ago, he said.

"To give a metaphor that is not particularly appropriate, the chairman of a car company told me that a smart electric car is actually a large mobile phone with four wheels. This statement is certainly not accurate, but it shows that these two industries are highly integrated, so it is challenging for us to enter the automobile industry, and the overall difficulty is controllable. " Lei Jun said.

This metaphor is quite vivid, and it is also reminiscent of the famous saying of Li Shufu, chairman of Geely Holding Group: "What’s the big deal about making a car? It’s just four wheels, several sofas and an iron shell."

But in the final analysis, building a car is not an easy task. Li Shufu swallowed bitter water, and Lei Jun had to be cautious.

Some industry veterans said that apart from "the whole ecology of people, cars and homes", the hardware configuration strategy of Xiaomi SU7 is basically similar to that of other China electric vehicle brands, and it is difficult to distinguish the hardware now, which is just the basic cost problem.

Therefore, for Xiaomi, compared with technology, pricing is the most critical now.

Before the press conference, Lei Jun once revealed that "it is really a bit expensive". This time at the scene, he also smiled and responded to the audience: "99,000 is absolutely impossible" and "149,000 is not necessary to talk about it."

In fact, many top international and domestic suppliers, including Magna, Borg Warner, Nexter, Brembo Brebo, ZF, ACC Ruisheng, Dirac, Michelin, Bridgestone, Valeo, Contemporary Amperex Technology Co., Limited, Gaode, Cool Dog, etc., have sent blessings to Lei Jun before the meeting, so it can be guessed blindly that the cost of this car must be not low.

"Xiaomi doesn’t seem to care about the cost performance this time, that is, the car is better than others." Some industry media have speculated that these suppliers are not just busy, and some companies should participate in the process of making cars in Xiaomi.

At the press conference, Lei Jun indirectly revealed that the high-end models may reach 400,000 yuan. Because one of its batteries accounts for 50% of the cost of the whole vehicle, and usually, a 100-degree battery costs at least more than 100,000 yuan.

Xiaomi car will sell for 400 thousand, is the pressure big?

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You know, the current new energy market is really too big, and the competing products of Xiaomi SU7 are not good.

Qi Rui Xing Tu Xing Ji Yuan ES, which was just listed last week, has many similarities with Xiaomi SU7. They are all medium and large pure electric cars, and their sizes are very close. Moreover, both of them are equipped with 400V platform at low level and 800V high-voltage platform at high level, providing single-motor and double-motor versions. The suspension forms are both front double wishbone and rear multi-link.

The entry model of Xingjiyuan ES is 400V+ single motor +60.7-degree battery, and the price is 225,800 yuan. The middle model with 800V+ single motor +79.9-degree battery costs 269,800 yuan, and the whole system comes standard with air suspension and +CDC electromagnetic vibration reduction system.

In addition, its brother model-Zhijie S7, which is operated by Huawei, is a 800V high-voltage platform with a starting price of 249,800 yuan. These two cars belong to the direct competing products of Xiaomi SU7, and their prices are of great reference significance.

And on December 27th, when Xiaomi was busy paying tribute to BYD, Weilai, Tucki, Ideality, Huawei and other brands, Geely’s brand of high-end new energy vehicles was extremely disappointing, and directly lifted the table next door.

It released a brand-new model, Krypton 007, which adopts 800V high-voltage platform, comes standard with 8295 car chip and 254 TOPS intelligent driving chip from NVIDIA. The single-motor entry-level model with 688km battery life and 0.05.6 seconds only sells for 209,900 yuan. The dual-motor model with 616km battery life, 3.8 seconds and variable suspension costs as little as 229,900 yuan.

Although Krypton 007 is a mid-level car, it is not as good as Xiaomi SU7 in body size, but this hardware and software configuration and price are equivalent to putting a "shackle" on Xiaomi. Many netizens and industry media believe that this pricing will have a huge impact on all competing models led by Xiaomi Automobile.

"This pricing makes it difficult for subsequent cars to do it. The direct target is Xiaomi car. Although the size is slightly smaller, it will definitely be compared in the terminal market." Some netizens ridiculed, "I finally understand why Xiaomi doesn’t pay tribute to Geely."

In the past two days, netizens have called for the price of Xiaomi Automobile to be 199,000. However, many people in the industry think that Xiaomi car can’t be sold so cheaply, and the pricing can be bolder. Because Xiaomi currently has advantages that other families do not have. Just want to turn the advantage into a sales victory as soon as possible, Lei Jun still faces many challenges.

(Author | Huang Shuo Zeng Guang, Editor | Tian Yanlin)