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Bloomberg

Chinese carmakers are already beating their Western rivals when it comes to winning over the country’s middle-class drivers. Now they are coming for rich customers looking to add a little extra to their cars.
Xiaomi last month started a service that will allow buyers to customise their 529,900 yuan (US$74,000) SU7 Ultra racer electric sedans with select trim and paint jobs – adding at least 100,000 yuan to the sticker price.
A major smartphone designer that is making quick inroads with its electric vehicles (EV), Xiaomi is competing for consumers who may otherwise opt for an individualised Porsche or another premium European brand. The German luxury carmaker is also pushing to expand sales of bespoke 911 sports cars in China as it gets squeezed on EVs by local brands.
Porsche and its Western peers long enjoyed strong growth in China, with renowned precision engineering of combustion-engine vehicles. But in recent years, Xiaomi, BYD, Nio and other local manufacturers have flipped the script with cutting-edge software and battery technology. Having cornered the market for affordable EVs, they are now targeting wealthier consumers.

While Xiaomi’s SU7 Ultra sells for less than the 918,000 yuan Porsche Taycan, the Chinese model bears an uncanny resemblance to the German company’s flagship electric model. SU7 Ultra buyers who want to customise their vehicles are required to commit at least 100,000 yuan to their personalised touches, which include 24-carat gold bonnet badges and forged wheel hubs in four colours. The service also extends to the 329,900 yuan YU7 Max, an SUV that has been compared with Ferrari’s Purosangue.
For Xiaomi, challenging upmarket Western brands at a lower price point extends beyond cars: billionaire co-founder and CEO Lei Jun recently unveiled a smartphone designed to take on the new iPhone 17 that is more than US$100 cheaper than the Apple handset.
By adding pricey extras for car buyers, Xiaomi is tapping a lucrative trend. The likes of Ferrari, Bentley Motors and Lamborghini have for years offered their super-rich customers the chance to spend extra cash to make their cars unique.
Take the Berlin Philharmonic orchestra conductor, whose 911 Turbo was fitted with the chassis of a racing car and lightweight construction that extended to leather strap door handles. Or the member of the Qatar ruling family, whose seven custom Porsche 959s featured buffalo leather interiors and a gold-plated exhaust tailpipe.
Porsche says more than 90 per cent of 911 buyers choose at least one option from its personalisation business, Exclusive Manufaktur, which can add tens of thousands of dollars to the purchase cost.
Unique paint jobs are among the most popular: customers can spend around US$13,000 to select from the brand’s library of more than 190 colours, or spend more than US$30,000 to match their new car to their favourite lipstick shade, baby blanket or sports team jersey.
“Our customers don’t want off-the-shelf products,” Porsche production chief Albrecht Reimold told reporters at the brand’s Leipzig factory last month. “They want individualised interiors and, in some cases, exteriors that meet their needs.”
Customised models typically tend to keep their value better over time, something that buyers splashing out lots of money look for – that is unless the customer has decked out their Ferrari in garish purple or another look too ostentatious for most owners. Weak residual values for the Taycan have hit demand for the model.
Porsche plans to expand the customisation options and bolster its in-car software and features in China after seeing volumes plummet there. The bespoke model programme is currently limited by manpower and space at its Exclusive Manufaktur headquarters in Zuffenhausen, Germany.
The Exclusive Manufaktur business brings in around €5.6 billion (US$7.6 billion) in sales and as much as €2.5 billion in profit, according to estimates from Citi analyst Harald Hendrikse.
The analyst cautioned that Xiaomi’s push might not attract every potential Porsche owner. “Xiaomi cars are competing more directly with Audi, BMW or Mercedes,” Hendrikse said. Selling more add-ons isn’t guaranteed to boost business either, he added. “Best case we’re talking about between 1 per cent and 2 per cent of global revenues.”
Still, it’s clear that Xiaomi is encroaching on the territory of Western premium brands. The amethyst purple colour option the carmaker has unlocked for its customisation programme takes around 50 hours to apply and includes hand polishing, Lei said.
“Without being humble, this paint job is comparable to that of Rolls-Royce or Bentley,” he said. “I want more people to be able to enjoy the service that comes with top-range luxury cars.”


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The Chinese EV maker has started a bespoke service that adds at least US$14,000 to the sticker price of an SU7 Ultra EV


The Chinese EV maker has started a bespoke service that adds at least US$14,000 to the sticker price of an SU7 Ultra EV.


Xiaomi takes on Porsche with customised luxury EVs in China

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}The Chinese EV maker has started a bespoke service that adds at least US$14,000 to the sticker price of an SU7 Ultra EV

The Chinese EV maker has started a bespoke service that adds at least US$14,000 to the sticker price of an SU7 Ultra EV