Tesla’s Model 3 starts at 245,900 yuan in China while the Xiaomi SU7 is 30,000 yuan cheaper than it.
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Analysts have estimated that the Xiaomi SU7 will be priced at USD 27,668.26 to USD 41,502.39 or above.
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Xiaomi first flagged its interest to enter the EV market in 2021 as it had been seeking to diversify beyond its core business.