Achi news desk-
Xiaomi started selling its electric car on Thursday, with the Chinese smartphone company pricing its SU7 at 215,900 to 299,900 yuan ($29,870 – $41,493) as it enters a highly competitive domestic market.
CEO Lei Jun told the launch event that the transition from electronics to car manufacturing had not been easy, noting that US rival Apple had abandoned such an idea.
“During the three years of developing this car, my biggest realization is that making cars is extremely difficult. Even a giant like Apple gave up,” said Lei to a packed audience at the event.
“So today, every person who still perseveres in making cars is a hero of our time,” said Lei.
The company’s standard SU7 EV model will be priced at 215,900 yuan, while the Pro and Max versions will cost 245,900 yuan and 299,900 yuan respectively, Lei said. Deliveries for the Standard and Max models will begin at the end of April, with the Pro models to follow by the end of May.
All SU7 models will only be sold in China, the world’s largest car market, for the time being.
Comparing Xiaomi’s SU7 with Tesla and Porsche EV models, Lei pointed out its advantages, including its minimum range of 700km which is more than Tesla Model 3’s 567km.
The launch fulfills the ambition of Xiaomi founder Lei, who announced the company’s foray into EVs in 2021, promising to invest $10 billion in his car business as the “last big entrepreneurial project” of his life.
The New York Auto Show opens to the public on Friday, and it comes as the industry faces a difficult decision.
The company formed a manufacturing partnership with state-owned automaker BAIC Group and unveiled the SU7 sedan – short for Speed ​​Ultra 7 – in December.
Analysts are divided on whether Xiaomi’s car project will succeed.
Some say it is a natural extension of the company, whose rice cookers, air purifiers and other electronics are ubiquitous in Chinese homes.
In China’s digital car market, “there are no better companies to know how to monetize screens than mobile device companies”, says Bill Russo, CEO of Shanghai-based consultancy Automobility.
But, in a departure from the company’s image as an affordable brand, Xiaomi’s SU7 sedan price tag means it’s entering a crowded, more premium segment, competing with more established EV makers like Tesla and Geely’s Zeekr for a share of the market in the middle of a brutal price. War.
For example, Tesla’s Model 3 has a starting price of 245,900 yuan, while Zeekr’s 001 and 007 models have starting prices of 269,000 yuan and 209,900 yuan respectively.
“Can (Chinese consumers) psychologically take that leap from cool, cheap, mass-market consumer products and home products to a premium EV?” said Tu Le, founder of consultancy Sino Auto Insights.
