Chinese consumer tech giant Xiaomi has made a grand entry into the electric vehicle market with its first car model, the Xiaomi SU7. With its latest launch on Thursday, the company sets its sights on becoming a top player in the global automotive industry, directly competing with renowned brands like Tesla and Porsche.
The SU7, a product of Xiaomi’s extensive R&D investment of over 10 billion yuan ($1.4 billion), is currently in trial production and is expected to be available in the domestic market within a few months. The company’s chief executive officer Lei Jun, during a presentation spanning over three hours, emphasized the car’s superior acceleration capabilities, surpassing benchmarks set by Porsche’s Taycan and Tesla’s Model S. The Xiaomi team, comprising former talents from BMW and Mercedes-Benz, has been working tirelessly for over three years to bring this project to fruition.
The SU7 is ingeniously integrated with Xiaomi’s range of smartphones and smart home devices, ensuring a seamless user experience. Additionally, the vehicle boasts compatibility with Apple products like the iPhone, iPad, CarPlay, and AirPlay, a strategic move considering Apple’s speculated entry into the automotive sector. According to a report by CNBC, the SU7 has been listed as a tax-exempt new energy vehicle by China’s Ministry of Industry and Information Technology, indicating its purely electric nature with an impressive driving range of 628 to 800 kilometers (390 to 500 miles).
According to a Reuters report, Xiaomi’s SU7 will come in two versions. First with a driving range of up to 668 km (415 miles) on a single charge. Second, with a range of up to 800 km on a single charge. While the pricing details of the SU7 remain undisclosed, the car is anticipated to carry a premium tag, aligning with its high-end specifications and technological advancements.
— Lei Jun (@leijun) December 28, 2023
Xiaomi’s automotive venture arrives at a time when China’s EV market is crowded yet dynamic, posing both challenges and opportunities for the tech giant. Xiaomi’s ambitious move into the EV space is part of a broader trend among Chinese tech firms diversifying into the automotive industry. With an investment pledge of $10 billion over the next decade, Xiaomi is poised to make a significant impact.