Xiaomi releases a new EV called the SU7 that aiming to rival companies like Tesla during challenging period in China's auto industry.
The much-awaited debut of Xiaomi’s electric vehicle marks a significant milestone for the Chinese tech giant. It marks its entry into the competitive world of automobiles amid a challenging landscape for China’s auto industry.
Surprisingly, the standard SU7 EV model is priced at 215,900 yuan , while the Pro and Max versions will cost 245,900 yuan and 299,900 yuan, respectively. “We have benchmarked our car with Model 3.” However, The Xiaomi CEO said the SU7 is priced lower than the Tesla Model 3, but that 90 percent of its specifications surpass the Tesla model.Ahead of the launch, Lei said in a post on Weibo that the SU7 was “the best looking and smartest car with the best driving experience” in the domestic market segment of EVs that cost under 500,000 yuan.
Growth in China’s EV market is expected to decline for a second consecutive year, according to a Bloomberg report. However, this reflects Xiaomi’s ambition to become one of the world’s top five automakers within the next two decades.
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