China’s Xiaomi joins the crowded EV race with ‘dream car’ to take on Tesla
CNN
Xiaomi is scheduled to formally launch its much-anticipated electric car — the new Speed Ultra 7 (SU7) sedan — on Thursday night in Beijing.
Xiaomi is scheduled to formally launch its much-anticipated electric car — the new Speed Ultra 7 (SU7) sedan — on Thursday night in Beijing. Lei Jun, founder and CEO of the popular Chinese smartphone brand, teased the launch this week by saying he wanted the company’s first electric vehicle to be the “best-looking, easiest to drive, and smartest car” priced below 500,000 yuan ($69,180). “Xiaomi wants to build a ‘dream car’ comparable to Porsche and Tesla,” he said on Weibo on Wednesday. “If we want to build good cars, we must seriously learn from these two best car manufacturers in the world,” he added. Xiaomi will announce detailed pricing at the launch event. However, the company’s big auto ambitions come at a time when competition in the industry has become intense in China. The world’s largest EV market, supercharged by the heavy state subsidies in the past decade, has become overcrowded.
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