Xiaomi, a renowned smartphone manufacturer from China, has recently ventured into the electric vehicle (EV) industry, unveiling its first-ever electric car model.
The company’s leadership has expressed ambitious plans to rank among the top five global electric car manufacturers within the next 15 to 20 years, as reported by Reuters.
While the new Xiaomi electric car model has been revealed, it is expected to hit the market after a few more months.
This comes when China, the world’s largest car market, is increasing production despite a dip in demand due to a pricing war.
Xiaomi’s CEO, Lei Jun, highlighted that their electric car is equipped with ‘super electric motor’ technology, which can outpace the speeds of Tesla and Porsche EVs.
He further emphasised their commitment to elevating China’s automobile industry to the global stage.
The electric car model, named SU7, will be available in two versions.
One version can travel up to 668 km (415 miles) on a single charge, while the other can cover up to 800 kilometres.
However, Xiaomi has not disclosed the pricing details.
The SU7 is anticipated to appeal to customers due to its operating system that seamlessly integrates with Xiaomi’s popular phones and other electronic devices, allowing drivers to use Xiaomi’s mobile apps without interruption.
Xiaomi announced its intention to manufacture electric cars in March 2021 and registered the business in September of that year.
The new business unit dedicated to electric car manufacturing is named ‘Xiaomi EV Inc’.
At the time of registration, the authorised capital was 1 billion yuan/ 1.4 billion USD (1.00000 USD = 7.10005 CNY, at the time of writing), with Lei Jun serving as the legal representative.