- Xiaomi’s self-proclaimed ‘best looking, easiest to drive and smartest car’ will be priced below 500,000 yuan (USD$69,424), CEO Lei Jun says.
- The SU7 will come in two versions, one with a driving range of up to 668km on a single charge and another with a range of up to 800km.
- Xiaomi, which has pledged to invest $10 billion in cars over the next decade, is one of the few new players in China’s electric vehicle market to receive approval from the authorities.
Xiaomi’s CEO said on Monday his goal for the firm’s first electric vehicle was that it would be the “best looking, easiest to drive and smartest car” priced below 500,000 yuan (USD$69,424), as the Chinese electronics maker gears up for orders this week.
Xiaomi SU7 on sale
The company will on Thursday evening announce its official price range and start taking orders for the car, dubbed the SU7, with the SU short for Speed Ultra, according to Reuters.
CEO Lei Jun’s comments, made on his official Weibo account, mark the first time the company has confirmed the upper end of its price range.
Lei has touted it as having technology capable of delivering acceleration better than Tesla cars and Porsche’s EVs.
On Monday, Xiaomi shops in China also began displaying the car, with long queues of potential customers and car bloggers wanting to get a closer look at the “ocean blue” model.
The SU7 will come in two versions – one with a driving range of up to 668km on a single charge and another with a range of up to 800km. By comparison, Tesla’s Model S has a range of up to 650km.
Also read: Smartphone maker Xiaomi to deliver first electric vehicle in China this month
Xiaomi in the automotive field
The fifth-largest smartphone maker in China has been looking to diversify into electric vehicles amid stagnant demand for smartphones, which was first proposed in 2021.
Other Chinese tech companies that have partnered with carmakers to develop EVs include telecoms giant Huawei and search engine firm Baidu.
Xiaomi has pledged to invest US$10 billion in cars over a decade and is one of the few new players in China’s EV market to gain approval from authorities.
Its cars are being produced by a unit of state-owned carmaker BAIC Group in a Beijing factory with an annual capacity of 200,000 vehicles.
