WionDrive News Desk 
Chinese electronic giant Xiaomi has launched its much-anticipated and first electric car, the sporty SU7 sedan starting at 215,900 yuan (USD 29,872.02). The Pro and Max versions of the vehicle will cost 245,900 yuan and 299,900 yuan respectively. At this price point, the electric vehicle undercuts Tesla Model 3 while drawing styling cues drawn from Porsche. It highlights stiff competition from new entrants in an already crowded EV market in China.
Tesla’s Model 3 starts at 245,900 yuan in China while the Xiaomi SU7 is 30,000 yuan cheaper than it. Xiaomi started taking orders for the SU7 from 10 p.m. Beijing time (1400 GMT) and has already received 50,000 orders within the first 27 minutes. Deliveries for the Standard and Max models will start in late April, and the Pro models will follow by the end of May. The SU7 will go on sale in 211 stores across 39 Chinese cities by end of this year. However, Xiaomi has not yet said anything about its plans to sell the car abroad.
While addressing the gathering at the launch event, Xiaomi CEO and founder Lei Jun said that many of the capabilities of the SU7 surpass that of Tesla’s and Porsche’s. For example, its minimum range of 700-km beats Tesla Model 3’s 567-km range. Lei said that the shift from electronics to car manufacturing had not been easy. “In the three years of developing this car, my biggest realisation is that making cars is extremely difficult. Even a giant like Apple gave up on it,” he said. “So today, every person who is still persevering in making cars is a hero of our time.”
The company, best known for its smartphones and a wide range of affordable appliances, decided to foray into EV segment in 2021. The launch of the SU7 fulfils the ambition of Xiaomi’s founder, who pledged to invest USD 10 billion in its auto business as “the last major entrepreneurship project” of his life.
Analysts have been split on whether Xiaomi’s car project will succeed. While some say it is a natural extension for the company, others are not sure if it will be able to sustain its car business.
