The much-anticipated Xiaomi SU7 EV has been launched by the Chinese electronics giant. Primarily, the smartphone giant is striving to assert dominance in the automobile industry by internally developing full-stack technology for EVs. This is where the 5 core technologies play a pivotal role. From die-casting to electric motors, Xiaomi showcases its technological prowess to realize its overarching goal of establishing the Human x Car x Home Smart Ecosystem. In the Chinese market, the electric car from Xiaomi takes on the giants like the Tesla Model 3 and BYD Seal.
You may also like: BYD Seal vs Tesla Model 3 Comparison – Which One’s Better?
Xiaomi SU7 EV Launched
According to the company, they received a whopping 50,000 orders within the first 27 minutes of the sales. It has a starting price of 215,900 Yuan (approx. $30,000). For reference, the Tesla Model 3 starts at 245,900 Yuan (approx. $34,025) in China. Hence, it undercuts the American EV by a considerable $4,000. With this, Xiaomi has started a price war in an attempt to dislodge Tesla from the position of the top EV maker on the planet. Note that Tesla is already struggling with the lack of demand and growing competition, particularly from the Chinese giants. This latest EV will further add to the woes of Tesla in China.
You may also like: Tesla Cybertruck Owners Complain About Rust on Pickup Truck
The SU7 has a range of 700 km (435 miles), which is higher than the Tesla Model 3. Additionally, the standard SU7 is substantially cheaper than the Porsche Taycan which has a high asking price due to being a full import. With such enticing propositions, Xiaomi is slated to enter the already crowded Chinese EV market with a product that can offer incredible performance at an affordable price point. That will be its USP going forward. These are Xiaomi’s big plans which also incorporate investments of $10 billion over the next decade.
You may also like: Mahindra BE.05 Spied Testing Near Jaipur
You may also like: Tata Safari EV Spied on Test – VIDEO
Author’s Note
The Chinese market is the biggest automobile market in the world. The progression of EVs has reached a point in China where the industry is witnessing a slowdown. There are millions of EVs on the roads already. Hence, the addition of yet another carmaker in the nation might seem superfluous. But that is exactly what Xiaomi is out to challenge. With the demand at the launch already high, it shall be interesting to witness the sales trajectory once the deliveries commence in April.
