Xiaomi is set to unveil its inaugural electric car, the SU7, in India on July 9, according to recent reports. However, the Chinese tech giant may not immediately launch the vehicle in the Indian market, opting instead to gauge consumer interest during the showcase event.
The SU7, also referred to as the Speed Ultra, marks a significant milestone for Xiaomi, which has invested USD 10 billion globally in the automotive sector. Already available in China since March, the SU7 has garnered positive feedback for its initial sales. Positioned competitively, the base model of the SU7 is priced under USD 30,000 (approximately INR 25 lakh), making it around USD 4,000 cheaper than Tesla's Model 3 base model in China.
Xiaomi offers two variants of the SU7, providing consumers with options for driving ranges: one version offers up to 668 km on a single charge, while the other extends the range to 800 km, catering to different consumer needs in terms of range and performance.
Recent reports from the Times of India highlighted Xiaomi's strategic move to showcase the SU7 in Bengaluru, aiming to demonstrate its brand strength and diversified product portfolio beyond smartphones, which currently dominate its consumer offerings.
"The car will be on display, alongside a range of household appliances, marking Xiaomi's entry into new product categories," a source mentioned in the report.
Unveiled in December, the Xiaomi Speed Ultra 7 (SU7) sedan boasts advanced "super electric motor" technology, promising acceleration speeds faster than leading EVs like Tesla and Porsche.
In a bid to diversify amid plateauing smartphone demand, Xiaomi ventured into the EV sector as early as 2021. Production of its cars will be handled by a unit of the state-owned BAIC Group in Beijing, with an annual capacity of 200,000 vehicles.
Xiaomi's ambitious entry into the EV market has been backed by a commitment to invest $10 billion over a decade, distinguishing it as one of the few newcomers in China's EV sector to secure regulatory approval amid concerns of oversupply.
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