Prepared to make a mark in the electric vehicle sector, Xiaomi, a newcomer is gearing up to unveil its maiden EV, the SU7. The imminent launch on Thursday, March 28, marks the culmination of extensive development efforts. Since its December reveal, this car has garnered increasing interest, signaling ambitions to compete globally among top automakers.

Xiaomi, Set to Hit Market

Lei Jun, the CEO of the Chinese technology company behind this innovative venture, emphasizes that the SU7 will hit the market sooner than anticipated, offering advanced technology and performance at a competitive price point below $74,000.

According to Focus' report, the objective of the Xiaomi SU7 is to emerge as the most visually appealing, high-performing, and intelligent sedan priced under 500,000 yuan (approximately $78,700)," as stated by Lei Jun in a Weibo post. CNBC reports that Xiaomi is set to commence official sales of the SU7 and begin accepting orders starting Thursday.

The CEO of the company emphasized that the vehicle will be showcased in Xiaomi stores across 29 cities in China, with test drive opportunities available from the same day. In addition to citing a Reuters report, Focus mentioned that the initial electric vehicle from the company will be offered at a price lower than 500,000 yuan, as confirmed by the CEO on Monday.

He further emphasized the car's goal of being the most attractive, user-friendly, and technologically advanced option in its category. Jun's statements were reportedly made on his verified Weibo account, marking the first instance of the company disclosing details regarding the car's pricing. Prior to this revelation, while online discussions speculated about the car's features, there had been no mention of its pricing.

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How It Started

 As reported by EconoTimes, in the previous year, sources revealed that Xiaomi, a renowned Chinese smartphone manufacturer, had introduced its inaugural electric vehicle with ambitions to establish itself among the top five automakers worldwide. The much-anticipated sedan, named the SU7 (where SU represents Speed Ultra), has garnered significant attention. CEO Lei Jun has promoted its cutting-edge "super electric motor" technology, claiming it can achieve acceleration speeds that outpace those of Tesla vehicles and Porsche's electric lineup.

The CEO stated that through dedicated efforts in the upcoming 15 to 20 years, their aim is to position themselves as one of the leading five automakers globally, with a focus on elevating China's automobile sector. Within these aspirations lies the vision to develop a luxury vehicle on par with top brands like Porsche and Tesla, as highlighted by Jun.

The anticipated appeal of the SU7 to consumers also stems from its utilization of Xiaomi's acclaimed operating system, shared among their successful smartphones and electronic gadgets. This integration ensures that drivers will have seamless access to the company's array of mobile applications.

As outlined in Focus, Xiaomi finds itself in a position where it needs to compete with Chinese counterparts like BYD and Nio. The company is confronted with a competitive landscape that includes domestic rivals such as BYD, Nio, Xpeng, and Li Auto, all aiming for a share of the premium electric vehicle market segment. In a recent post, Lei Jun expressed resolute determination, stating, "Three years ago, the announcement was made regarding Xiaomi's entry into the EV market. This undertaking represents his final new venture," showcasing his willingness to stake his reputation on championing a vision he strongly believes in.

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