Xiaomi's CEO sets high bar for SU7 electric vehicle: ‘Affordable luxury with advanced technology’

‍Xiaomi CEO Lei Jun aims for the SU7 electric vehicle to be stylish, easy to handle, and intelligent, while remaining affordable below 500,000 yuan. Orders for the SU7, also known as Speed Ultra, will open soon with impressive driving ranges surpassing Tesla's Model S.

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The SU7 will be available in two variants, offering driving ranges of up to 668km (415 miles) and 800km on a single charge, respectively. (REUTERS)

Xiaomi's CEO revealed on Monday his ambitious vision for the company's inaugural electric vehicle, aiming for it to be the epitome of style, ease of handling, and intelligent features, all while maintaining an affordable price tag below 500,000 yuan ($69,424), reported Reuters. This announcement comes as Xiaomi prepares to kickstart orders for the vehicle, named the SU7, later this week.

The highly anticipated car, also known as the Speed Ultra (SU), is set to make its official pricing range announcement on Thursday, with orders opening shortly afterward. Lei Jun, the CEO, shared his insights via his official Weibo account, marking the first public disclosure of the upper pricing limit for the SU7.

Excitement has been brewing since Xiaomi unveiled the vehicle in December, along with its bold ambition to rank among the world's top five automakers. Lei Jun has been vocal about the SU7's advanced technology, boasting capabilities that rival Tesla and Porsche electric vehicles in terms of acceleration.

In anticipation of the imminent launch, Xiaomi stores across China commenced displaying the SU7, drawing in eager prospective buyers and automotive enthusiasts to catch a glimpse of the "ocean blue" variant. Furthermore, the company rolled out its dedicated "Xiaomi Car" app on Chinese app platforms.

The SU7 will be available in two variants, offering driving ranges of up to 668km (415 miles) and 800km on a single charge, respectively. This puts it ahead of Tesla's Model S, which boasts a range of up to 650km.

Amidst a smartphone market slowdown, Xiaomi, China's fifth-largest smartphone manufacturer, is diversifying its portfolio into electric vehicles, a strategy first unveiled in 2021. Joining the ranks of other Chinese tech giants like Huawei and Baidu, Xiaomi aims to leverage its expertise in technology to make a mark in the EV industry.

With a commitment of $10 billion investment over the next decade, Xiaomi is among the few newcomers in China's EV market to secure approval from authorities, who are cautious about exacerbating the existing supply glut. Production of Xiaomi's cars is underway in collaboration with a subsidiary of state-owned BAIC Group, utilizing a Beijing-based factory with an annual capacity of 200,000 vehicles.

Sourced from Mint

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