Chinese technology giant Xiaomi has announced the commencement of deliveries for its inaugural electric vehicle (EV) in China this month.
In a Weibo announcement, the company stated that 59 of its stores across 29 cities in China will start accepting orders for its new Speed Ultra 7 (SU7) sedan. A launch event is scheduled for March 28, during which the pricing for the new EV will be disclosed.
China witnessed an 18% increase in EV sales during January-February, closely trailing the 21% growth observed throughout 2023.
This year, market leader BYD initiated significant price reductions to attract consumers amidst weakening domestic demand.
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During the SU7 unveiling in December, Xiaomi’s CEO Lei Jun outlined the company’s ambition to rank among the top five automakers globally. Jun emphasized the SUV’s “super electric motor” technology, promising faster acceleration compared to Tesla and Porsche EVs.
Analysts anticipate that the car’s integration with Xiaomi’s popular phones and electronic devices will resonate with the company’s existing customer base.
In a recent Weibo post, Lei emphasized the need for Xiaomi’s cars to differentiate themselves and prioritize smart technology, acknowledging that the growth stage and user expectations for Xiaomi’s cars differ from those of its smartphones 14 years ago.
Manufactured by a subsidiary of the state-owned automaker BAIC Group, the cars will be produced in a factory located in Beijing with an annual capacity of 200,000 vehicles.
