Xiaomi Launches First Electric Vehicle, the SU7, Amid Intense Market Competition
Xiaomi's entry into the electric vehicle market with the SU7 aims to challenge established players like Tesla and BYD, leveraging its tech prowess and competitive pricing.
- Xiaomi's first electric vehicle, the Speed Ultra 7 (SU7), will begin deliveries on March 28, marking the tech giant's ambitious entry into the automotive sector.
- The SU7 boasts superior acceleration compared to some Tesla and Porsche models, along with a range of up to 497 miles and advanced driver-assist features.
- Xiaomi plans to invest $10 billion in its vehicle business over the next decade, with aspirations to become one of the world's top five automakers.
- The SU7 is expected to be priced competitively, potentially between 250,000 yuan ($34,800) and 370,000 yuan ($51,500), in a market currently experiencing a fierce price war.
- Xiaomi's automotive venture is part of a broader strategy to diversify beyond smartphones and other electronics, amidst stagnating demand in those sectors.
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