Disgruntled Xiaomi Electric Vehicle Buyers Confront Payment Dispute

In the highly competitive electric vehicle (EV) market, Xiaomi's controversial payment policy is causing a stir. Reports from Chinese media suggest that the tech giant is demanding full payment for its upcoming SU7 sedan and YU7 SUV models before the scheduled delivery date.

Industry observers speculate that this policy may be aimed at filtering out non-serious buyers or speculators. However, many customers argue that this term is unfair and leaves them with little recourse.

Xiaomi had previously assured customers on its official WeChat account that they could inspect their vehicles before making the final payment. This move by Xiaomi reportedly contradicts the company's earlier assurances.

Customers are now faced with a difficult choice: pay the full amount well in advance or risk losing their order and a deposit of RMB 5,000 (approximately ₹51,000). Some buyers, who are still 22 to 25 weeks away from their estimated delivery, have already received final payment notices.

Failure to pay within seven days of this demand is considered a breach of contract, giving Xiaomi the right to cancel the order and retain the deposit. This approach risks damaging the trust Xiaomi is trying to build in the EV market.

The Xiaomi vehicle purchase agreement contains a clause allowing the company to demand final payment at any time, based on its "vehicle production arrangements or sales situations." However, the name of the manager or team leader responsible for the payment policy at Xiaomi, specifically in the electric vehicle industry, remains unidentified.

Xiaomi has not commented on the controversy. The early payment demand by Xiaomi for its electric vehicles remains a topic of discussion in the industry, with the potential for lasting consequences for Xiaomi's reputation.

It's important to note that Xiaomi's SU7 sedan and YU7 SUV have received praise for their design and performance. Despite this, the dissatisfaction among customers could potentially overshadow the positive aspects of the vehicles.

As the situation unfolds, it will be interesting to see how Xiaomi addresses the concerns of its customers and navigates this challenging situation in the EV market.