Xiaomi, the fifth-largest smartphone maker in China, unveiled its debut electric vehicle, the Xiaomi SU7, aiming to become one of the top five global automakers.
Despite challenges in China’s saturated auto market, Xiaomi CEO Lei Jun expressed ambitious plans for the next 15 to 20 years, envisioning the company as a major player in the industry, competing with the likes of Porsche and Tesla.
The SU7, equipped with advanced technology and boasting an operating system shared with Xiaomi’s popular electronic devices, is positioned as a smart car.
It offers two versions with impressive driving ranges of up to 668 km and 800 km on a single charge, challenging competitors like Tesla.
Xiaomi, investing $10 billion in the auto sector over a decade, faces competition from established players like BYD and Tesla in China’s competitive EV market. The company’s stock, however, saw a minimal impact despite Lei’s ambitious announcements.
