Xiaomi, the global technology giant, has made its foray into the automotive industry with the highly anticipated launch of its first electric vehicles.
The China-based smartphone major has revealed two electric vehicles, the XiaomiSU7 and XiaomiSU7Max, marking its official entry into the highly competitive Electric Vehicle market.
Xiaomi’s social media announcement underscored the significance of #XiaomiSU7’s introduction into the automotive landscape, stating, “#XiaomiSU7 makes a significant Stride as Xiaomi expands from the smartphone industry to the automotive sector, completing the Human x Car x Home smart ecosystem.”
Elaborating on the performance, Xiaomi shared that the XiaomiSU7Max accelerates from 0 to 100 km/h in a remarkable 2.78 seconds, while the XiaomiSU7 achieves the same feat in 5.28 seconds. The top speed of the SU7 stands at 210 km/h, whereas the SU7Max boasts a maximum speed of 265 km/h.
Xiaomi said, “#XiaomiSU7 goes from 0-100km/h in 2.78 seconds, officially joining the ‘2s Supercar Club’ with a single step.”
The company unveiled three vibrant color variants for the new EV: Aqua Blue, Mineral Gray, and Verdant Green, providing consumers with diverse choices.
The EVs incorporate five core technologies, including E-Motors, batteries, HyperCasting, autonomous driving capabilities, and a smart cabin, representing Xiaomi’s innovation in the electric vehicle sector.
While the pricing details remain undisclosed, speculations suggest that the SU7’s price range might fall between 200,000 yuan to 300,000 yuan (approximately Rs 25 to 35 lakh).
Anticipated to hit the market next year, the XiaomiSU7 will be manufactured by a subsidiary of the China-owned automaker BAIC Group in a Beijing factory with an annual production capacity of 200,000 vehicles. This move signifies Xiaomi’s strategic alliance and production collaboration for its groundbreaking venture into the automotive industry.
CEO Lei Jun lauded its “super electric motor” technology, boasting acceleration speeds that surpass both Tesla’s cars and Porsche’s EVs.
The SU7’s impending launch occurs amid challenges within China’s auto market — the world’s largest — struggling with excess capacity and a slowdown in demand, leading to a fierce price competition, Reuters news report said.
Yet, Lei Jun remained resolute in articulating Xiaomi’s grand aspirations. “By working hard over the next 15 to 20 years, we will become one of the world’s top 5 automakers, striving to lift China’s overall automobile industry,” he said at the unveiling.
Xiaomi’s vision encompasses crafting “a dream car comparable to Porsche and Tesla,” Lei Jun added, outlining their pursuit of excellence in the automotive realm.
Apart from performance, the SU7 is anticipated to captivate consumers due to its integration with Xiaomi’s existing ecosystem, enabling seamless access to the company’s popular mobile apps and devices — a move highly regarded by industry experts.
The SU7 will offer two versions with driving ranges of up to 668 km and 800 km on a single charge, respectively, placing it in competitive standing against Tesla’s Model S, which boasts a range of up to 650 km.
Xiaomi’s ambitions in the automotive sector come as its smartphone business faces stagnant demand. The company aims to invest $10 billion in the automotive sector over a decade, partnering with a unit of state-owned automaker BAIC Group for production.
In China’s crowded EV market, Xiaomi faces substantial competition, notably from BYD, holding a one-third market share, and Tesla, commanding 9 percent as per third-quarter figures from Zheshang Securities.