Xiaomi unveils its first electric vehicle, aiming to be 'China's Porsche and Tesla'
Xiaomi unveiled its first electric vehicle, the SU7, on Thursday, a key step for the tech giant's car-business expansion and its ambition to become "China's Porsche and Tesla," Xiaomi's chief executive Lei Jun said on Thursday.
The SU7, with two models having a range of 668 and 800 kilometers (compared with Tesla Model S's 650km), will officially debut "several months later." Prices were not revealed but will be "a bit high" as it's a C-class high-end car, Lei said.
"By working hard over the next 15 to 20 years, Xiaomi will become one of the world's top 5 automakers," Lei said in a conference broadcast online.
The new car has several core technologies including autonomous driving and smart cabin tech. Lei also introduced the SU7's design team with members coming from companies such as BMW and Mercedes Benz.
Xiaomi has invested over 10 billion yuan (US$1.41 billion) in the auto business and has a team of 3,400 engineers.
Chinese tech giants, including Huawei and Xiaomi, are expanding into the smart cabin and electric car business.
Xiaomi's car faces competition from domestic rivals BYD, NIO and Xiaopeng, and Tesla, of course, said analysts.
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