Xiaomi’s much-anticipated entry into the electric vehicle market is set to make waves as the company gears up to unveil its first EV, the SU7. CEO Lei Jun outlined the vision for the vehicle, aiming for it to be the “best looking, easiest to drive, and smartest car” priced below 500,000 yuan ($69,424). This move marks Xiaomi’s bold step into the automotive industry, aligning with its ambition to be among the world’s top five automakers.
The SU7, aptly named with ‘SU’ representing Speed Ultra, promises advanced technology capable of delivering impressive acceleration, surpassing even Tesla and Porsche’s electric vehicles. Xiaomi has not only focused on performance but also on design, with the car’s “ocean blue” version attracting attention as it was displayed in Xiaomi stores across China.
Offering two versions, the SU7 boasts an impressive driving range of up to 668km (415 miles) on a single charge for one variant and up to 800km for another. This puts it ahead of Tesla’s Model S, which has a range of up to 650km. The car is expected to appeal to a wide range of consumers, especially with its competitive pricing and advanced features.
Xiaomi’s foray into electric vehicles comes as the company looks to diversify its offerings amid slowing smartphone demand. With a $10 billion investment pledge over a decade, Xiaomi is committed to making a mark in the EV market. Production is underway in a Beijing factory with an annual capacity of 200,000 vehicles, a partnership with a unit of state-owned automaker BAIC Group.
As Xiaomi prepares to open orders for the SU7, the tech giant is poised to disrupt the EV market with its combination of style, performance, and affordability, setting a new standard for electric vehicles.
