As long as Chinese brands continue to do stuff like this they'll never be taken seriously.Meanwhile, what will happen to the production version of the car when you go balls out on the Nurburgring:
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Gigantic brake calipers just to house those absolutely miniscule brake pads. This is like the automotive equivalent to stuffing your bra or your underwear to make your "bulges" look bigger.
BYD is one of the few Chinese companies that I can see doing a good job with building aspirational products. Their regular commuter cars seem to be insanely popular as well.The SU7 Ultra laptime was a publicity stunt using a heavily modified car. The actual car won't come close to that level of performance. Xiaomi is a smartphone brand and they are building cars with smartphone philosophy (maximizing specs) which won't translate well to durable goods like cars.
The BYD Yangyang U9 hyper car on the other hand is a much more serious contender. It did a time of 7:17 with almost fully stock specs and also reached 390km/h top speed. I would be really surprised if the production version of the Ultra can match the U9.