{"id":212143,"date":"2024-03-30T15:53:42","date_gmt":"2024-03-30T15:53:42","guid":{"rendered":"https:\/\/www.techopedia.com\/?post_type=news&p=212143"},"modified":"2024-03-30T15:53:42","modified_gmt":"2024-03-30T15:53:42","slug":"xiaomis-leap-into-evs-su7-model-aims-to-outshine-tesla","status":"publish","type":"news","link":"https:\/\/www.techopedia.com\/news\/xiaomis-leap-into-evs-su7-model-aims-to-outshine-tesla","title":{"rendered":"Xiaomi’s Leap into EVs: SU7 Model Aims to Outshine Tesla"},"content":{"rendered":"

Chinese smartphone brand Xiaomi has made a high-profile launch of its first electronic vehicle (EV), boasting tens of thousands of orders in less than an hour.<\/strong><\/p>\n

Xiaomi<\/a> CEO Lei Jun revealed the firm will sell its standard SU7 model for 215,900 yuan ($30,381), with the upgraded Max edition costing 299,900 yuan ($42,202).<\/p>\n

Xiaomi Expects to Beat Tesla in Price<\/span><\/h2>\n

Lei conceded the company would sell each car at a loss, at least initially. Still, Xiaomi’s divergence into the crowded EV market signals a trade war with Tesla<\/a> and BYD, which are set to take notice given recent sluggish demand.<\/p>\n

In China’s dominant EV market<\/a>, Tesla has reacted by cutting the cost of its cars by thousands. BYD, the world\u2019s top-selling EV maker, making similar moves.<\/p>\n

\u201cThe goal of the Xiaomi SU7 is to be the best-looking, best-driving, and most intelligent sedan under 500,000 yuan ($69,328),\u201d Lei wrote in a post on Chinese social media platform Weibo.<\/p><\/blockquote>\n

The SU7’s attractive pricing is likely to pique consumer interest. It beats the starting price of Tesla\u2019s introductory Model in China, at 245,900 yuan ($34,603). The company has claimed the SU7 beats the Model 3 in most of its specifications, except in a couple of aspects that could take up to five years to match Elon Musk\u2019s organization.<\/p>\n

Xiaomi SU7: details<\/span><\/h2>\n

Xiaomi added that they hope to entice customers with the same operating systems in their cars as those in their phones, laptops, and other devices.<\/p>\n

\n

So many incredible colors, it's going to be a tough choice.\ud83d\ude0e #XiaomiSU7<\/a> pic.twitter.com\/iuU3svyDdA<\/a><\/p>\n

— Lei Jun (@leijun) March 28, 2024<\/a><\/p><\/blockquote>\n