Chinese electronics manufacturer Xiaomi unveiled its first electric car on Thursday, marking its entry into the growing electric vehicle sector as it aims to become a global leader. Xiaomi, the fourth-largest smartphone manufacturer globally, produces various electronic devices such as touch-screen tablets, internet-connected watches, headsets, and scooters.
In 2021, Xiaomi announced its venture into the booming electric vehicle market, a sector that several Chinese brands have entered in recent months, facing increased competition.
Xiaomi’s CEO, Lei Jun, introduced the “Xiaomi SU7,” a sedan expected to hit the market in 2025. Xiaomi will provide software and electronics for the vehicle, while local manufacturer BAIC (Beijing Automotive Industry Holding Co.) will handle production.
Lei Jun stated, “The goal is to be among the top five manufacturers in the world after 15 to 20 years of hard work.”
The batteries for the SU7 will be supplied by BYD (Build Your Dreams), a leading Chinese electric vehicle manufacturer, and CATL (Contemporary Amperex Technology Co. Limited), and the battery range can reach up to 800 kilometers.
China is the largest automotive market globally, and local brands are investing heavily in electric vehicles. In November, BYD, with over 300,000 electric vehicles sold, surpassed the American company Tesla (with over 80,000 cars) according to the China Association of Automobile Manufacturers.
Similar to Xiaomi, dozens of local brands have invested in electric vehicles in recent years, as foreign manufacturers work hard to adapt to the competitive market.
Established in 2010, Xiaomi has experienced rapid growth by offering advanced devices at reasonable prices. Initially an unknown brand internationally, Xiaomi faced regular mockery for its products heavily inspired by Apple’s iPhones. In 2021, the company was blacklisted by the United States due to alleged links to the Chinese military.
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