Xiaomi has started selling its first electric vehicle SU7 and stated that it will be selling it much cheaper than Tesla's Model 3. The actual price of the novelty turned out to be even slightly lower than expected.
Xiaomi CEO Lei Jun said that the standard version of SU7 will be sold in China for 215,900 yuan ($30,408). The price he mentioned will mean that the company is selling each car at a loss. At the same time, the cost of Tesla Model 3 starts in China at 245,900 yuan ($34,020). According to the industry website Autohome, the Model 3 is the best-selling new electric sedan in China.
Lei claimed that the standard version of SU7 surpasses Model 3 by more than 90% in its characteristics, except for two aspects. To catch up with Tesla in these areas where there is currently a lag, Xiaomi may need at least 3 to 5 years.
Xiaomi SU7 supports Apple Car Play and can integrate with iPad, Lei said. He also talked about a driver assistance system for highways and cities, which will be fully available in China in August.
The Chinese company plans to start delivering the Xiaomi SU7 electric vehicle by the end of April. Lei Jun stated that Xiaomi's car factory, where all "key" stages are fully automated, can produce a new SU7 car every 76 seconds. There is no information yet on whether the factory is running at full capacity.
The Xiaomi SU7 enters the highly competitive market in China, where companies are releasing many new models and lowering prices to attract consumer attention. Xiaomi aims to reach 20 million users for its new electric vehicle. Initially, SU7 will be sold to consumers in China, and it will take at least 2-3 years to launch abroad.
Along with the Xiaomi car, the company also plans to sell a number of branded accessories. These include a car refrigerator, custom front window curtain, and smartphone holder. Some of them are available for free with the purchase of a car until the end of April, while others are available at a separate price.
Source: cnbc
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