Xiaomi's First EV SU7 To Be Priced Under Rs 58 Lakh, CEO Teases

The anticipation surrounding Xiaomi SU7 has been palpable since its initial reveal in December.

Xiaomi's entry into the electric vehicle market comes as part of a broader strategy to diversify its product lineup in response to the plateauing demand for smartphones.

Xiaomi's debut electric car, the SU7 is preparing to accept customer orders later this week. According to Xiaomi's CEO Lei Jun, the SU7 aims to set new standards in aesthetics, ease of use, and intelligence in the EV sector, all while maintaining a price tag under 500,000 yuan (roughly Rs 57.92 lakh). This ambition positions Xiaomi's inaugural venture into the automotive world as a direct challenge to established brands, with the CEO expressing confidence that the SU7 will outperform competitors like Tesla and Porsche in acceleration capabilities.

The anticipation surrounding the SU7 has been palpable since its initial reveal in December, with Xiaomi setting its sights on breaking into the top five global automakers.

The vehicle has already made waves on social media and in Xiaomi stores across China, where an "ocean blue" model of the SU7 is currently on display for eager fans and automotive enthusiasts. The excitement is further fueled by the launch of the "Xiaomi Car" app, available in Chinese app stores, providing potential buyers a glimpse into the smart features of the upcoming car.

Xiaomi's entry into the electric vehicle market comes as part of a broader strategy to diversify its product lineup in response to the plateauing demand for smartphones. With a commitment to invest $10 billion in the automotive sector over the next ten years, Xiaomi is positioning itself as a formidable player in the EV space. This move aligns with the efforts of other Chinese tech giants, such as Huawei and Baidu, which have also ventured into EV development through partnerships with traditional automakers.

The SU7 will be offered in two variants, boasting impressive driving ranges of up to 668km (415 miles) and 800km on a single charge, respectively. These figures not only promise to exceed the range offered by Tesla's Model S but also signal Xiaomi's intent to compete on all fronts, including battery life.

Production of Xiaomi's EVs is facilitated by a subsidiary of the state-owned BAIC Group, operating out of a Beijing factory capable of producing up to 200,000 vehicles annually. This collaboration underscores the support Xiaomi has garnered from national industry and regulatory bodies, highlighting the strategic importance of its automotive endeavours in China's rapidly evolving EV market.