Chinese Xiaomi is widely known as a smartphone manufacturer. It also makes a lot of other gadgets and appliances. But now Xiaomi has also become the car-making company.
Presentation of the Xiaomi SU7 electric vehicle – image from the official reveal video.
Xiaomi revealed its inaugural electric vehicle on Thursday, simultaneously declaring its aspiration to be among the globe’s leading five automakers. The sedan, named SU7 (Speed Ultra), is a highly anticipated model boasting a “super electric motor” technology.
CEO Lei Jun emphasized that its acceleration capabilities surpass Tesla and Porsche electric vehicles.
Despite an expected release in a few months, the car enters the market amid China’s auto industry grappling with overcapacity and slowing demand, leading to intense price competition. Despite these challenges, Xiaomi aims to become a top global automaker in the long term.
The SU7 has an integrated operating system, shared with Xiaomi’s popular phones and electronic devices, providing drivers seamless access to the company’s array of mobile apps.
Offered in two versions, the SU7 boasts a driving range of up to 668 km (415 miles) on a single charge for one variant and up to 800 km for another. In comparison, Tesla’s Model S has a range of up to 650 km. Pricing details are yet to be disclosed.
As China’s fifth-largest smartphone manufacturer, Xiaomi has been proactively diversifying beyond its core smartphone business into electric vehicles, a strategic move initiated in 2021. Other Chinese tech companies, including telecom giant Huawei and search engine firm Baidu, have also entered partnerships with automakers to venture into the electric vehicle sector.
Xiaomi has committed to investing $10 billion in the automotive sector over the next decade. The production of Xiaomi’s vehicles will be undertaken by a subsidiary of the state-owned automaker BAIC Group in a Beijing factory with an annual capacity of 200,000 vehicles.
Written by Alius Noreika