Chinese tech giant Xiaomi took a significant step into the electric vehicle market by unveiling its inaugural electric car model on Thursday.
Despite fierce competition domestically, Xiaomi’s CEO expressed aspirations of becoming a global automotive powerhouse.
Xiaomi, known as the world’s fourth-largest smartphone manufacturer and a leading provider of various electronics, including tablets, smartwatches, headphones, and electric scooters, announced its venture into electric vehicles in 2021.
This move aligns with a trend where several major Chinese tech companies are entering the highly competitive electric vehicle sector.
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Lei Jun, Xiaomi’s CEO, presented the SU7 sedan during the event in Beijing, announcing its planned market entry in 2025.
The sedan integrates Xiaomi software, connecting seamlessly with the company’s range of devices, and will be manufactured by local company BAIC.
Lei Jun emphasized the ambitious goal of Xiaomi becoming one of the world’s top five automotive manufacturers through dedicated efforts over the next 15 to 20 years.
The SU7’s batteries will be supplied by BYD, China’s largest electric automaker, and CATL, a prominent domestic battery company.
China, as the world’s largest automotive market, has seen significant investments from top tech firms in the electric vehicle sector.
BYD currently leads the Chinese EV market, surpassing Tesla in November with over 300,000 models sold, according to the China Association of Automobile Manufacturers.
Established in 2010, Xiaomi has experienced rapid growth by offering high-end devices at affordable prices, initially through online channels.
However, the company faced challenges in 2021 when the United States blacklisted it due to alleged links to the Chinese military.
Despite such obstacles, Xiaomi continues to expand its reach, now venturing into the promising electric vehicle market with the SU7.
