Xiaomi, the renowned smartphone manufacturer, asserts its readiness for an imminent price war in China’s electric vehicle (EV) landscape, ahead of the anticipated debut of its maiden EV model, the SU7, slated to hit the market on March 28.
The company, buoyed by its successful foray into smartphones, is primed to tackle the competitive EV industry, affirming its strategic preparedness across all fronts, as reported by the Securities Times today.
Xiaomi’s announcement of the official launch date for the SU7 electric sedan came earlier today, marking a significant milestone since its unveiling on December 28. However, the pricing details are yet to be disclosed.
Lei Jun, Xiaomi’s founder, chairman, and CEO, emphasized the need for Xiaomi’s EV venture to differentiate itself in the market. “Unlike our smartphone journey, Xiaomi’s entry into the EV realm necessitates a distinctive approach,” Lei Jun stated, underscoring the company’s commitment to delivering innovative smart technology that aligns with consumer expectations and the evolving landscape of new energy vehicles (NEVs).
Xiaomi formally declared its foray into the automotive sector on March 30, 2021, at a time when Chinese consumers faced limited choices for high-quality EV models.
In 2021, the EV sedan market in China was dominated by Tesla’s Model 3, which stood as the sole mid-to-high-end offering, underscoring the potential for Xiaomi’s SU7 to disrupt the segment with its upcoming launch.
