Automotive Ekports February 2024
China’s smartphone maker Xiaomi unveils first electric vehicle February 2024 Chinese smartphone maker Xiaomi unveiled its first electric vehicle (EV) and promptly announced its ambitions to become one of the world’s top five automakers. The sedan model dubbed the SU7 – with the SU standing short for Speed Ultra – is a highly anticipated model that Chief Executive Lei Jun touted as having “super electric motor” technology capable of delivering acceleration speeds faster than Tesla cars and Porsche’s EVs. But the car – likely to go on sale in several months – is making its debut at the time when China’s auto market, the world’s largest, is wrestling with a capacity glut and slowing demand that have stoked a bruising price war. That didn’t stop Xiaomi Chief Executive Lei Jun from outlining big ambitions. “By working hard over the next 15 to 20 years, we will become one of the world’s top 5 automakers, striving to lift China’s overall automobile industry,” he said at the unveiling. Those plans include building “a dream car comparable to Porsche and Tesla,” he added. The SU7 is also expected to appeal to customers due to its shared operating system with Xiaomi’s popular phones and other electronic devices. Its drivers will have seamless access to the company’s existing portfolio of mobile apps. “Xiaomi is a well-established consumer electronics brand with hundreds of millions of ‘Mi Fans,’ or members of its smart device ecosystem,” said Bill Russo, CEO of Shanghai-based advisory firm Automobility. “As such, they have a significant opportunity to break through as the automobile becomes a smart device.” The SU7 will come in two versions – one with a driving range of up to 668 kilometers (415 miles) on a single charge and another with a range of up to 800 km. By comparison, Tesla’s Model S has a range of up to 650 kilometers. Pricing has yet to be announced. Lei said the cost would “indeed be a bit high, but one that everyone will think is justified.” Amid one of the coldest Decembers on record for China, the SU7 was also being positioned to appeal 34
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China’s smartphone maker<br />
Xiaomi unveils first electric vehicle<br />
<strong>February</strong> <strong>2024</strong><br />
Chinese smartphone maker Xiaomi unveiled its<br />
first electric vehicle (EV) and promptly announced<br />
its ambitions to become one of the world’s top five<br />
automakers.<br />
The sedan model dubbed the SU7 – with the SU<br />
standing short for Speed Ultra – is a highly anticipated<br />
model that Chief Executive Lei Jun touted as having<br />
“super electric motor” technology capable of delivering<br />
acceleration speeds faster than Tesla cars and<br />
Porsche’s EVs.<br />
But the car – likely to go on sale in several months – is<br />
making its debut at the time when China’s auto market,<br />
the world’s largest, is wrestling with a capacity glut and<br />
slowing demand that have stoked a bruising price war.<br />
That didn’t stop Xiaomi Chief Executive Lei Jun from<br />
outlining big ambitions.<br />
“By working hard over the next 15 to 20 years, we will<br />
become one of the world’s top 5 automakers, striving<br />
to lift China’s overall automobile industry,” he said at<br />
the unveiling.<br />
Those plans include building “a dream car comparable<br />
to Porsche and Tesla,” he added.<br />
The SU7 is also expected to appeal to customers due<br />
to its shared operating system with Xiaomi’s popular<br />
phones and other electronic devices. Its drivers will<br />
have seamless access to the company’s existing<br />
portfolio of mobile apps.<br />
“Xiaomi is a well-established consumer electronics<br />
brand with hundreds of millions of ‘Mi Fans,’ or<br />
members of its smart device ecosystem,” said<br />
Bill Russo, CEO of Shanghai-based advisory firm<br />
Automobility.<br />
“As such, they have a significant opportunity to break<br />
through as the automobile becomes a smart device.”<br />
The SU7 will come in two versions – one with a driving<br />
range of up to 668 kilometers (415 miles) on a single<br />
charge and another with a range of up to 800 km. By<br />
comparison, Tesla’s Model S has a range of up to 650<br />
kilometers.<br />
Pricing has yet to be announced. Lei said the cost<br />
would “indeed be a bit high, but one that everyone will<br />
think is justified.”<br />
Amid one of the coldest Decembers on record for<br />
China, the SU7 was also being positioned to appeal<br />
34
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