Chinese electronics giant Xiaomi is gearing up for the launch of its first electric car, the SU7. The company is not taking things lightly and has invested heavily in the project, with a development team of 3,400 people and a budget of 10 billion yuan (€1.3 billion).
The SU7 will be launched in China in a few weeks and will be offered in two versions: rear-wheel drive (220 kW) and all-wheel drive (220 + 275 kW). The most powerful version will have a range of 800 km (according to the Chinese CLTC cycle).
Xiaomi CEO Lei Jun has said that the company’s goal is to become one of the leading Chinese car manufacturers by the end of the decade. He has also expressed his concern about being too successful, which could lead to delivery delays and a tarnished brand image.
In addition to the SU7, Xiaomi plans to launch three other models by the end of 2025. The company has not yet announced any European ambitions, but it is likely that it will enter that market in the medium term.
A bold strategy Xiaomi’s entry into the automotive market is a bold strategy. The company is a newcomer in this field and will face well-established competitors such as Tesla, BYD, and SAIC.
To succeed, Xiaomi will need to offer innovative and competitive products. It will also need to invest heavily in research and development, as well as production.
The SU7 is an important first step for Xiaomi. The car is well-equipped and offers a respectable range. If it is well-received by the Chinese public, it could give the company a good start in the automotive sector.
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