Xiaomi will announce on Thursday evening the official price range for its first car and will receive purchase orders for the car called “SU7” (Reuters)
Xiaomi's CEO said on Monday that his goal for the company's first electric car is to be "the best-looking, easiest-to-drive and smartest car" at a price of less than 500,000 yuan ($69,424), as the Chinese electronics maker prepares to receive orders this week. , according to what was reported by Reuters.
On Thursday evening, the company will announce its official price range and begin receiving purchase orders for the car, which is called “SU7,” and SU is an abbreviation of the words Speed Ultra.
Xiaomi CEO Li Jin's comments, which he made on his official Weibo account, are the first time that the company has confirmed the upper limit of the car's price range.
Expectations for the car have increased since Xiaomi unveiled the car last December, and announced that it aims to become one of the five largest car manufacturers in the world.
He described it to me as having technology capable of achieving better acceleration than Tesla and Porsche electric cars.
Xiaomi stores in China also began displaying the car on Monday, with potential customers lining up to get a close-up look at the “ocean blue” version. In addition, the company has uploaded the Xiaomi Car application to Chinese app stores.
The “SU7” will come in two versions, one with a driving range of up to 668 kilometers on a single charge and the other with a range of up to 800 kilometers, while the range of Tesla’s Model S reaches 650 kilometers.
China's fifth-largest smartphone maker is seeking to diversify into electric vehicles amid stagnant demand for smartphones, a plan it first indicated in 2021.
Other Chinese technology companies that have partnered with automakers to develop electric cars include telecom giant Huawei and search engine company Baidu.
Xiaomi has pledged to invest $10 billion in cars over a decade, and is one of the few new players in China's electric car market to have received approval from authorities, who have been hesitant due to abundant supply.
Xiaomi cars are produced by a unit of the state-owned BAIC Automotive Group in a factory in Beijing with an annual capacity of 200,000 cars.
Source: Reuters