Chinese consumer electronics giant Xiaomi Corp (小米) unveiled its first four-wheeled electric vehicle (EV) yesterday, with company founder and chief executive officer Lei Jun (雷軍) saying it has ambitions to become a global automotive powerhouse, despite fierce competition at home.
Beijing-based Xiaomi, which is the world’s fourth-largest smartphone manufacturer, is also a leading provider of tablets, smartwatches, headphones and electric scooters.
The company in 2021 announced its intended foray into EVs, joining a trend that has seen several major Chinese tech companies pivot toward the highly competitive sector.
Photo: REUTERS/Florence Lo
Lei took to the stage in Beijing yesterday to unveil the SU7, a sedan that is scheduled to enter the market in 2025.
The model is integrated with Xiaomi software to enable functionality across the firm’s range of devices and would be produced by local manufacturer BAIC Group (北汽集團), the company said.
“The goal is to become one of the world’s top five automotive manufacturers through 15 to 20 years of hard work,” Lei said.
The SU7’s batteries are to be supplied by China’s largest electric automaker, BYD Co (比亞迪), as well as domestic battery giant Contemporary Amperex Technology Co (寧德時代).
Many top tech firms in China — which is the world’s largest automotive market — have invested recently in the country’s EV sector.
BYD was the undisputed leader of China’s EV market last month with more than 300,000 models sold, ahead of Tesla Inc’s more than 80,000, China Association of Automobile Manufacturers data showed.
Founded in 2010, Xiaomi has achieved rapid growth through its strategy of marketing high-end devices at affordable prices, which were initially sold directly through online channels.
The firm was placed on a blacklist by the US in 2021 due to alleged links to the Chinese military.
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