Xiaomi has made a significant stride in its automotive venture with the launch of its car app on Apple’s App Store in China, as confirmed by Reuters checks on Monday.
The CEO of Xiaomi expressed his aspirations for the company’s debut electric vehicle (EV), aiming for it to be the epitome of aesthetics, ease of operation, and intelligence, all at a price point below 500,000 yuan ($69,424). This announcement comes as the Chinese electronics giant prepares to commence orders for its EV, named the SU7, later this week.
On Thursday evening, Xiaomi will unveil the official price range of the SU7 and commence order placements, with the ‘SU’ prefix standing for Speed Ultra. CEO Lei Jun’s remarks, shared on his official Weibo account, represent the first instance where the upper limit of the price range has been disclosed by the company. Anticipation for the vehicle has been mounting since Xiaomi unveiled it in December, along with its ambition to establish itself among the world’s top five automakers. Lei has emphasized the vehicle’s technological prowess, boasting acceleration capabilities surpassing those of Tesla and Porsche electric vehicles (EVs).
Xiaomi’s retail outlets in China have also begun showcasing the SU7, attracting potential customers and automotive enthusiasts eager to inspect the “ocean blue” variant up close. Furthermore, the company has made its “Xiaomi Car” app available on Chinese app stores.
The SU7 will be offered in two configurations, differing in their driving ranges: one with a range of up to 668km (415 miles) on a single charge, and another with an extended range of up to 800km. In comparison, Tesla’s Model S offers a maximum range of up to 650km.
Amidst waning demand for smartphones, China’s fifth-largest smartphone manufacturer, Xiaomi, has been diversifying its portfolio into the EV sector, a strategy initially outlined in 2021. Other Chinese tech conglomerates, including telecom giant Huawei and search engine firm Baidu, have also ventured into EV development through partnerships with established automakers.
Xiaomi has committed to investing $10 billion in the automotive sector over the next decade and has secured approval from Chinese authorities, despite their cautious approach due to oversupply concerns in the EV market. Production of Xiaomi’s vehicles is being handled by a subsidiary of state-owned automaker BAIC Group in a Beijing-based factory with an annual capacity of 200,000 vehicles.
