Lei Jun, the billionaire co-founder and CEO of Chinese smartphone maker Xiaomi, unveiled the company’s first electric car today (December 28). June did not reveal many details about its upcoming SU7—including the exact timeline of its launch or its price– but he said that Xiaomi harbors ambitions to become a leading player in the global industry.
“After three years of making cars, I realized how difficult this business is,” Jun said said at the China National Convention Center in Beijing, where the new vehicle was unveiled. “But after 15 to 20 years of hard work, we aim to build Xiaomi into one of the world’s top five electric vehicle companies.”
The announcement comes on the eve of the Chinese automaker BYD’s expected displacement of Elon Musk’s Tesla as the world’s largest seller of fully electric vehicles.
Jun believes Xiaomi is not too late to the autonomous management party. “Self-driving technologies are changing very quickly, and starting late has its advantages,” he said. “It means we can work from a higher threshold and build from there.”
The company is cooperate with Beijing Automotive Industry Holding Co. (BAIC) to manufacture the SU7.
Xiaomi’s EV ambitions, by the numbers
3,700: Members of Xiaomi’s automotive division are working on a car that can compete with well-known brands such as Porsche and Tesla
10 billion Chinese yuan ($1.4 billion): Xiaomi’s R&D investment to make this car
150: Jun, CEO of Various Cars, seems to have been driving since he committed to making Xiaomi’s in 2019
3: Colors in which the car is available—Aqua Blue, Mineral Grey, and Verdant Green—follow Anuj Sharma, Chief Marketing Officer of Xiaomi
800 km: The Xiaomi SU7’s range
21,000 rpm: Motor speed that will drive Xiaomi’s SUV – above that of the Tesla Model S Plaid (20,000 revolutions per minute) and Taycan Turbo S (16,0000 rpm)
300,000: Reported annual production capacity at Xiaomi’s Beijing factory.
Quotable: Xiaomi was inspired by and rival Porsche, Tesla
“The Xiaomi SU7 is not built to race any particular competitor. Inspired by extensive user research, we designed the SU7 to fulfill the varied aspirations of our customers. We designed the SU7 to offer a level of driving performance that ranks among the best in its class, including the Porsche Taycan Turbo. We prioritized intelligent technology and drew inspiration from the advanced systems in cars such as the Tesla Model S. The Xiaomi SU7 offers advanced technologies and a supporting ecosystem to enhance your driving experience.”
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