Xiaomi CEO Lei Jun revealed the company’s highly anticipated electric vehicle, the SU7, with bold aspirations to redefine the segment.
The SU7 aims to stand out as the “best looking, easiest to drive and smartest car” in its category, marking Xiaomi’s entry into the competitive electric vehicle market. Priced below 500,000 yuan (USD 69,424), the SU7 targets affordability without compromising on quality or performance.
Lei Jun’s announcement on Weibo, Xiaomi’s official account, signals the imminent launch of the SU7, with the company set to disclose the official price range and begin accepting orders on Thursday evening. Anticipation has been steadily building since Xiaomi first unveiled the vehicle in December, accompanied by ambitions to establish itself among the world’s top five automakers.
The SU7, dubbed with ‘SU’ for Speed Ultra, promises advanced technology capable of rivaling established players like Tesla and Porsche. Xiaomi boasts of acceleration capabilities surpassing those of Tesla cars, coupled with impressive driving ranges. The vehicle will be available in two variants, offering driving ranges of up to 668 km and 800 km on a single charge, respectively.
In a strategic move to diversify its product portfolio beyond smartphones, Xiaomi is leveraging its retail presence in China to showcase the SU7. Prospective customers and car enthusiasts have been flocking to Xiaomi stores to catch a glimpse of the “ocean blue” version of the vehicle. Additionally, Xiaomi has launched the “Xiaomi Car” app on Chinese app stores to complement its foray into the electric vehicle market.
Xiaomi’s venture into electric vehicles aligns with broader industry trends, with other Chinese tech giants like Huawei and Baidu also venturing into the sector. Xiaomi’s USD 10 billion investment commitment over a decade highlights its long-term commitment to the auto industry. The production of the SU7 is facilitated through a collaboration with a unit of state-owned automaker BAIC Group, utilising a Beijing factory with a sizable annual capacity of 200,000 vehicles.
Amidst concerns of oversupply in the electric vehicle market, Xiaomi’s entry has received approval from authorities, positioning the company strategically to capitalize on the growing demand for electric vehicles in China.
