Xiaomi, the Chinese consumer electronics giant, has officially announced its entry into the electric vehicle (EV) market, revealing plans to launch the Xiaomi SU7. The company has invested over 10 billion yuan ($1.4 billion) in the development of this new car model, aiming to compete with established automakers like Tesla and Porsche.
The SU7 is currently in trial production and is expected to enter the domestic market within a few months, according to Xiaomi CEO Lei Jun. While the pricing is yet to be finalized, the vehicle promises superior acceleration and performance metrics compared to competitors like Porsche’s Taycan and Tesla’s Model S, as stated in Lei’s presentation.
Lei also outlined Xiaomi’s ambition to lead in various aspects of the automotive industry, including autonomous driving. The design team for the SU7 includes veterans from BMW and Mercedes-Benz, indicating a serious approach to quality and innovation. The vehicle has been in development for over three years, a period during which the EV market in China has seen significant growth and competition.
One of the unique selling propositions of the SU7 is its integration with Xiaomi’s ecosystem of products, fitting into a broader vision of a ‘Human x Car x Home’ smart ecosystem. The car is designed to sync seamlessly with Xiaomi smartphones and internet-connected home appliances, enhancing user convenience and lifestyle integration. Lei also emphasized a strong commitment to data privacy and safety standards, noting that the SU7 aims to exceed U.S. safety requirements for rear-end collisions.
Moreover, the vehicle will also support Apple’s ecosystem, including iPhone, iPad, CarPlay, and AirPlay, even as Apple has not yet entered the car market.
As Xiaomi steps into the highly competitive electric vehicle sector, all eyes will be on the performance and market reception of the SU7, which represents a significant expansion of Xiaomi’s product portfolio beyond smartphones and home appliances.
Sales are expected to commence in 2024.
