Tesla’s Model 3 starts at 245,900 yuan in China while the Xiaomi SU7 is 30,000 yuan cheaper than it.

Analysts have estimated that the Xiaomi SU7 will be priced at USD 27,668.26 to USD 41,502.39 or above.

Xiaomi first flagged its interest to enter the EV market in 2021 as it had been seeking to diversify beyond its core business.