Xiaomi will deliveries of its first electric vehicle (EV) SU7 in China soon, in March, venturing into the world's largest auto market at a time of aggressive price competition. (Source: Reuters)
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The fifth-largest smartphone manufacturer in China said on social media platform Weibo that orders for its new Speed Ultra 7 (SU7) vehicle will be accepted at 59 of its locations across 29 cities. The public is anticipated to see the new EV's sticker tag unveiled at a launch ceremony on March 28. (Source: Reuters)
Between January and February of 2023, China's EV sales increased by 18 percent, which is not too far from the 21 percent growth observed for the entire year. In an attempt to win over customers amidst waning domestic demand, market leader BYD initiated a significant price reduction campaign this year. (Source: Reuters)
At the launch of the SU7 in December, Chief Executive Lei Jun said Xiaomi planned to become one of the world's top five automakers. Lei said the SUV has "super electric motor" technology capable of delivering faster acceleration than Tesla's and Porsche's EVs. (Source: Reuters)
"Xiaomi's cars are going from zero to one in a very different growth stage and facing very different user expectations compared to when Xiaomi's smartphones went from zero to one 14 years ago," Lei said in a Weibo post. (Source: Reuters)
