Xiaomi has introduced its first electric car, the SU7, signaling a significant foray into the automotive industry. Unveiled by the company’s Chief Executive, Lei Jun, the vehicle aims to position Xiaomi among the top five global automakers in the next two decades.
Dubbed ‘Speed Ultra’ (SU7), the electric car is set to challenge established players in the electric vehicle (EV) market. Lei Jun emphasized the vehicle’s advanced “super electric motor” technology, claiming acceleration capabilities that surpass those of Tesla and Porsche electric vehicles.
Designed to seamlessly integrate with Xiaomi’s existing ecosystem of electronic devices and mobile apps, the SU7 promises a cohesive user experience for consumers familiar with the brand’s smartphones. This integration is expected to be a key selling point for the vehicle.
The electric sedan will be offered in two variants, featuring impressive driving ranges of 668 km (415 miles) and 800 km on a single charge, respectively. This surpasses the range of Tesla’s Model S, which covers up to 650 km. While pricing details remain undisclosed, Lei Jun hinted at a premium price point that would be perceived as reasonable by consumers.
Apart from its performance capabilities, the SU7 is marketed for its suitability in cold weather conditions. Amid one of China’s coldest Decembers on record, the vehicle boasts rapid charging in low temperatures and advanced obstacle-detection technology for challenging environments, including heavy snowfall.
Production of Xiaomi’s vehicles will be carried out by a BAIC Group unit at a Beijing factory, with an annual production capacity of 200,000 vehicles.
Xiaomi’s entry into the automotive sector coincides with a challenging period for China’s car market, grappling with oversupply and declining demand. Despite these industry challenges, Lei Jun remains optimistic about Xiaomi’s long-term automotive aspirations, seeking to elevate China’s automobile industry.
This move into electric vehicles is part of Xiaomi’s broader strategy to diversify its portfolio in response to stagnating demand in the smartphone market. The decision to enter the electric vehicle market was initially announced in 2021, following the lead of other Chinese tech giants like Huawei and Baidu.
Committing to invest $10 billion in the automotive sector over the next decade, Xiaomi has secured approval from authorities, a significant endorsement in a tightly regulated industry, setting it apart from many new entrants in China’s crowded EV market.