Xiaomi Elucidating Finished Product To Stand Against Tesla

Xiaomi, a renowned name in the smartphone industry, is embarking on a daring journey into the electric vehicle (EV) sector. With plans for an SUV that will stand up to Tesla’s Model Y, the company, under the leadership of CEO Lei Jun, has been diligently developing this vehicle since announcing its EV ambitions in 2021. Initially, the focus was on the SU7 sedan, with a target of producing 100,000 units this year. However, Xiaomi has now shifted gears, prioritizing the SUV’s launch, which is expected to coincide with the completion of its new assembly plant in Beijing, projected for late 2025 or early 2026.

While specific details about the SUV are still under wraps, insiders suggest that it will be a game-changer. It’s expected to target the mainstream market and address any shortcomings of Xiaomi’s first EV, the SU7 sedan. What’s more, affordability is a key pillar of Xiaomi’s strategy, with rumours hinting at a more budget-friendly price tag than the SU7 sedan’s starting price of RMB 215,900. The speculated price for the upcoming SUV is around RMB 150,000, a figure that could potentially attract a broader consumer base and reshape the Chinese EV market.

With an annual production capacity of 300,000 vehicles expected at its Beijing plant, Xiaomi is poised to make a significant impact on the rapidly expanding EV market. This strategic move underscores Xiaomi’s commitment to diversifying its offerings beyond smartphones and venturing into the promising realm of electric vehicles. Xiaomi is not just entering the EV market, but it’s aiming to compete with established players like Tesla, all while keeping a keen eye on consumers’ evolving needs and preferences.

[Image Source: WallStreetJournal]