From Smartphones to EVs: China's 5th Largest Maker's Bold Move!

During the December unveiling of the SU7, CEO Lei Jun outlined Xiaomi's ambition to rank among the globe's top five automakers. This marks a significant milestone as Xiaomi, renowned globally for its consumer electronics, ventures into the automotive industry for the first time.

Lei said the SUV has "super electric motor" technology capable of delivering faster acceleration than Tesla's, and Porsche's EVs.

In just 27 minutes after opening orders for their new all-electric vehicle, Xiaomi had already amassed over 50,000 orders. Prospective buyers using Xiaomi's car app were notified that delivery times for the new SU7 and SU7 Pro could range from 18 to 21 weeks, while the AWD SU7 Max, the most premium model, might take 27 to 30 weeks. Xiaomi is setting its sights on Tesla, offering a vehicle priced similarly to the entry-level Model 3 in China but boasting significantly superior specifications.

Xiaomi also introduced a limited-edition variant known as the Founder’s Edition, which includes additional benefits like a mini-fridge add-on. The initial batch of 5,000 Founder’s Edition units sold out instantly.

The smartphone behemoth has committed to investing $10 billion in the automotive sector over the next decade and stands out as one of the few emerging contenders in China's EV market to secure approval from regulatory authorities.