Date: January 02, 2024. — Chinese smartphone maker Xiaomi has unveiled its electric car, the SU7, at a launch event in Beijing. The company also announced its ambitious goal of becoming one of the world’s top five automakers in the next 15 to 20 years.
The SU7 is a sedan that is supposed to benefit from the operating system that it shares with Xiaomi’s popular phones. The vehicle has a sleek look, a huge display, and advanced self-driving capabilities. In terms of performance and quality, Xiaomi believes that the SU7 can compete with Porsche and Tesla.
Xiaomi’s debut into the electric vehicle (EV) sector comes at a time when demand in the world’s largest car market is slowing and supply is plentiful. The company is up against major automakers as well as new entrants like as Nio, Li Auto, and Xpeng. It has pledged to invest $10 billion in its EV business over the next decade. The company has also partnered with a unit of the state-owned manufacturer BAIC Group. Together, they will manufacture cars in a Beijing factory with a 200,000-unit annual capacity.
Lei Jun, Xiaomi’s founder and CEO, stated during the event that the firm intends to use its expertise in software and hardware integration, as well as its passionate fan base, to develop a “dream car” for the masses. He stated that Xiaomi will work hard over the next 15 to 20 years to become one of the world’s top five automakers. Additionally, the company aims to contribute to China’s total vehicle sector.
Xiaomi is most renowned for its reasonably priced smartphones. These devices have become increasingly well-liked in developing nations like China. In addition, the company produces a variety of smart appliances, wearables, TVs, computers, and other gadgets. Based on the most recent IDC data, Xiaomi is the world’s second-largest smartphone manufacturer, trailing only Samsung. In the first nine months of 2023, the company generated revenue of 347.7 billion yuan ($54.6 billion). Additionally, it achieved a net profit of 26.5 billion yuan ($4.1 billion).
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