Xiaomi Ventures Into Electric Vehicles With SU7 To Rival Tesla And Porsche
Your smartphone and your day-to-day vehicle may soon come out of the same factory! Xiaomi, a renowned smartphone maker and Chinese powerhouse, has officially ventured into the competitive EV market with a vehicle it’s calling the “SU7.”
Officially unveiled at a special launch event in Beijing, it seems that Xiaomi is not content with being a powerhouse in just consumer electronics and gadgets. The company has now positioned itself as a rival to Tesla and Porsche with the gorgeous-looking SU7 electric vehicle.
When you step back and view this move from a distance, it actually makes a lot of sense given the company’s position and experience.
However, it marks a significant shift in Xiaomi’s business strategy as entering in the world of electric vehicles is not easy. Nor is it cheap.
Xiaomi’s billionaire cofounder Lei Jun has clearly had enough of watching the likes of Elon Musk lap up the limelight and wants to make him work for his market share. Lei Jun has proclaimed that his aim is to make Xiaomi a global leader within the automobile business within the next 15 to 20 years and to create a “dream car.”. His company will invest a staggering $10 billion into the venture with the hope of ruffling some serious feathers in the automobile industry. Just like it did with smartphones all those years ago.
At this time, little information is known about the price or launch date of the SU7. He did, however, use the special launch event to claim that the company’s first vehicle will “outperform” premium electric vehicles from companies like the aforementioned Tesla and Porsche. The claim is backed by the car’s inclusion of an advanced motor system, autonomous driving software, and specially designed battery management systems.
The “Speed Ultra” 7 will have proprietary software and electronic systems built in-house by Xiaomi. It’ll have 101 kWH battery with CATL cells that are capable of letting the vehicle travel up to 500 miles and it’ll be offered in a single or dual-motor option. Oh, and it also looks very much like the beautiful Porsche Taycan Turbo.
Xiaomi is the world’s fourth largest smartphone maker and easily got under the skin of former U.S. President Donald J. Trump. Can the company do it again and propel itself to the heights of the automobile industry?