Xiaomi Chief Teases SU7 EV Price as Showrooms Showcase New Model
Xiaomi's CEO, Lei Jun, has revealed the company's foray into the electric vehicle market with its first model, the SU7. Priced below 500,000 yuan ($69,424), the SU7 aims to offer a combination of aesthetics, ease of driving, and intelligent features to set it apart in the competitive EV sector. Available in two versions, the SU7 will boast a driving range of up to 668 km (415 miles) on a single charge, with a higher-end model capable of reaching up to 800 km.
As the company diversifies beyond its traditional consumer electronics market, Xiaomi has committed a significant investment of $10 billion over the next decade in the automotive industry. The SU7, which is produced by a unit of the state-owned BAIC Group, reflects this strategic shift, especially amid stagnating smartphone demand. The model has already gained regulatory approval in China, indicating Xiaomi's serious intent in the EV space.
The electric vehicle has started to make its appearance in Xiaomi stores across 29 Chinese cities, generating interest among prospective customers and car enthusiasts. With official orders expected to commence shortly, the SU7 also marks the first time Xiaomi has confirmed the upper end of its price range for an EV. The announcement comes as part of an event scheduled for Thursday evening, where further details are anticipated.
