Xiaomi SU7 arrives as company's first electric car
What's the story
Chinese tech giant Xiaomi has unveiled its first electric car, the SU7. The firm also announced it was aiming to rank among the world's top five automakers.
The eagerly awaited sedan features a shared operating system with Xiaomi's popular smartphones.
At the debut event, CEO Lei Jun declared, "By working hard over the next 15 to 20 years, we will become one of the world's top five automakers, striving to lift China's overall automobile industry."
Details
Autonomous driving and production plans
Jun highlighted that Xiaomi cars' autonomous driving features would be industry-leading.
The vehicles will be manufactured by a subsidiary of state-owned automaker BAIC Group in a Beijing factory with an annual capacity of 200,000 vehicles.
Lei envisions creating a dream car comparable to Porsche and Tesla in the upcoming years, as Xiaomi seeks to make a substantial impact on the global automobile market.
Insights
How much will it cost?
The Xiaomi SU7's price and availability details aren't confirmed yet.
Since Xiaomi aims to compete with Porsche's Taycan Turbo, priced at CNY 8,98,000 and Tesla's Model S, priced at CNY 6,98,900, the producer of cheap smartphones is expected to price the SU7 somewhere in between this.
Many expect the SU7 to fall in the price range of CNY 2,00,000-3,00,000 (around Rs. 25-35 lakh).
The sales are likely to start next year.