Xiaomi Unveils Pricing for First Electric Vehicle, the SU7

The company aims to shake up the EV market with its high-range models and a $10 billion investment in the automotive sector.

Xiaomi's CEO, Lei Jun, announces the company's first electric vehicle, the SU7, will be priced below 500,000 yuan ($69,424), aiming to make it the 'best looking, easiest to drive and smartest car'.
The official price range and order taking for the SU7 will commence on Thursday evening, following its unveiling in December with ambitions to become a top five automaker.
Xiaomi's entry into the electric vehicle market is part of a broader strategy to diversify amid stagnating smartphone demand, with a commitment to invest $10 billion in autos over a decade.
The SU7 will be available in two versions, with driving ranges of up to 668km and 800km, surpassing Tesla's Model S in terms of range.
Production of the SU7 is underway at a Beijing factory owned by BAIC Group, with an annual capacity of 200,000 vehicles, as Xiaomi becomes one of the few new entrants in China's EV market approved by authorities.