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Chinese smartphone giant Xiaomi announced the launch of its first electric car, priced lower than Tesla’s Model 3, as a move to enter China’s burgeoning EV market. The news comes from increased competition in the electric car industry.
Xiaomi CEO Lei Jun announced that the standard model of the SU7 electric car will be sold at a price of 215,900 RMB (30,408 USD); This is higher than the Tesla Model 3’s starting price of RMB 245,900 in China. related to. Confirming that Xiaomi will sell all cars at a loss, Lei Jun talked about the excellent features of SU7; These include a range of 700 kilometers (about 435 miles) and more than 90 percent more features than the Model 3.
SU7 sales exceeded 50,000 units in 27 minutes, showing customer satisfaction with Xiaomi’s entry into the replica car electronics market. Deliveries will begin at the end of April with Xiaomi’s electric car generator capable of producing one SU7 every 76 seconds.
The launch of the SU7 comes at a time of fierce competition in China’s electric car industry, with manufacturers racing to introduce new products across rival models. . Traditional automobile and technology giants such as Huawei have also entered the market and increased competition.
Xiaomi’s move into electric cars is in line with its broader strategy to create an ecosystem of connected devices under its HyperOS operating system. While Xiaomi has a history of affordable products, the announcement of the SU7 represents a significant step in the right direction, targeting the growing number of consumers seeking electronic devices.
The company plans to sell the SU7 first in China and is expected to expand abroad in the next few years. The SU7 was unveiled at the Mobile World Congress in Barcelona following its debut in Beijing last December, marking Xiaomi’s aim to exit the electric car market.