Xiaomi Automobile (小米汽车) says 7‑year financing lease is lawful and online claims of regulatory “tricks” are unfounded

Xiaomi rebuts online allegations

Xiaomi Automobile (小米汽车) has pushed back against online speculation that its 7‑year low‑interest financing lease contains regulatory risks or hidden “tricks.” In a published Q&A, the company said the plan is “lawful and compliant,” and that claims of irregularity circulating online are unfounded. It has been reported that some commentators alleged the financing‑lease structure could expose buyers to unexpected liabilities; Xiaomi responded that such characterizations misread how the product is structured and regulated.

What the plan actually entails for buyers

Xiaomi said its financing program is delivered through a mix of licensed partners — including SPD Bank (浦发银行), China CITIC Bank (中信银行), Ningbo Bank (宁波银行) and Shanghai Xiaomi Financing Leasing Co. (上海小米融资租赁有限公司) — and that each institution is legally established and regulator‑approved. For example, Xiaomi cited a YU7 deal with an annualized fee rate from 1.33% (roughly a 2.55% APR) and monthly payments from RMB 1,999. Xiaomi emphasized that financing leasing in China is a legally recognized instrument: the vehicle is registered in the buyer’s name (机动车登记证 and 行驶证 remain with the owner) and the contractual “rent” is simply the terminology used under leasing law, not a signal of reduced ownership rights. Should buyers be worried? Xiaomi argues no — the company says costs are transparent, early repayment is permitted (no penalty after one year), and lenders and lessors offer different modes to suit different customers.

Product updates and wider context

Alongside the financing clarification, Xiaomi also used the Q&A to preview OTA upgrades for the new SU7 line — including phased feature pushes to earlier SU7 generations, a brake‑stress test for the SU7 Max and new in‑car “Super Toybox” AI pet features. Against a backdrop of tighter domestic financial oversight and increased global scrutiny of Chinese tech firms, automakers in China commonly assemble multi‑party finance solutions to broaden consumer access; Xiaomi framed its approach as conforming to that industry norm. Reportedly, the company urged customers to consult official announcements and in‑store advisers for detailed terms rather than rely on social‑media claims.