Xiaomi has officially entered the electric vehicle market, revealing its first model, the Xiaomi SU7. With an investment over 10 billion yuan ($1.4 billion), Xiaomi to challenge established automakers like Tesla and Porsche in China’s growing EV sector.
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Xiaomi’s CEO, Lei Jun, expressed goals during the unveiling, envisioning Xiaomi as one of the world’s top five automakers within the next 15 to 20 years.
The company to lift China’s automobile industry and compete head-to-head with industry giants like Porsche and Tesla.
Pronounced Sue Qi in Mandarin, the Xiaomi SU7 has superior acceleration and performance metrics compared to Porsche’s Taycan and Tesla’s Model S.
The vehicle integrates cutting-edge technology, with a focus on autonomous driving capabilities. After more than three years of development, Xiaomi plans to commence sales of the SU7 in 2024.
The launch comes at a time when EVs are gaining traction in China, making domestic automakers to differentiate their offerings through innovative technologies.
The SU7 is not just a car, it’s part of Xiaomi’s strategy to create a Human x Car x Home smart ecosystem. Integrated with Xiaomi’s smartphones and internet-connected home appliances.
Xiaomi addressed its commitment to data privacy, ensuring that the SU7 surpasses U.S. safety standards for rear-end collisions. Additionally, the vehicle is designed to be compatible with Apple’s iPhone, iPad, CarPlay, and AirPlay.
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Xiaomi’s EV will be produced by a subsidiary of the state-owned BAIC Group, contributing to China’s efforts to limit manufacturing permits for new entrants. The manufacturing facility in Beijing has an annual capacity of 200,000 vehicles.
While the exact price is yet to be revealed, Lei Jun hinted that it would not be cheap. Dismissing rumors of a 99,000 or 140,000 yuan price tag, Xiaomi to position the SU7 as a premium offering in the EV market.
With other domestic players like Nio, Huawei, Zeekr, and Xpeng also unveiling new electric models. Xiaomi CEO Lei Jun revealed during a three-hour presentation, addressing its acceleration capabilities, which reportedly surpass those of Porsche’s Taycan and Tesla’s Model S.
The vehicle is in trial production and is expected to hit the domestic market in the coming months, with sales slated to begin in 2024.
One of the strengths of the SU7 lies in its integration with Xiaomi’s smartphones and internet-connected home appliances.
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Lei said the company’s commitment to creating a Human x Car x Home smart ecosystem, ensuring connectivity between the SU7 and other Xiaomi devices. Additionally, the vehicle is designed to be compatible with Apple’s iPhone, iPad, CarPlay, and AirPlay.
The range of 628 to 800 kilometers (390 to 500 miles) on a single charge, according to information from the Ministry of Industry and Information Technology.
Xiaomi to set itself apart by prioritizing data privacy, surpassing U.S. safety standards for rear-end collisions, and offering fast-charging capabilities in low temperatures.
Lei Jun outlined Xiaomi’s goal of becoming one of the world’s top five automakers within the next 15 to 20 years.
Entering a market struggling with overcapacity and slowing demand, Xiaomi to position itself as a leader, particularly in autonomous driving technology. The SU7’s design team, with experience at BMW and Mercedes Benz.
Xiaomi faces competition in China’s EV market, with established players like Nio, Xpeng, and BYD already making strides.
The company’s pledge to invest $10 billion in the automotive sector over a decade shows its determination to secure a position in the EV Market.
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