Xiaomi has introduced its first electric vehicle, marking a significant milestone just days after Huawei unveiled its latest model. The debut of these cars highlights the increasing efforts of Chinese tech giants to break into the electric vehicle (EV) market.
On Thursday, Xiaomi revealed the SU7 sedan, following Huawei’s launch of the Aito M9 SUV earlier in the week. Both companies, known for their expertise in smartphones and consumer electronics, have now turned their sights to the automotive industry with ambitious plans.
In 2021, Xiaomi committed to investing $10 billion over the next decade into its smart EV subsidiary. At the launch event, Xiaomi CEO Lei Jun declared the company had entered a “new decade,” expressing a goal of becoming one of the world’s top five automakers within 15 to 20 years.
“This is a new beginning for Xiaomi,” Lei said. “I am confident that one day, there will be Xiaomi cars on roads all over the world.”
During the three-hour presentation, Lei described Xiaomi’s vision of producing a “dream car as good as Porsche and Tesla.” He acknowledged the challenges they faced, stating, “Building a great car is still incredibly difficult,” but assured the audience that after years of effort, Xiaomi had developed a vehicle that could compete with Tesla’s Model S and Porsche’s Taycan Turbo, showcasing a direct comparison of performance metrics.
Mark Rainford, a Shanghai-based automotive expert and host of the YouTube channel “Inside China Auto,” praised Xiaomi’s new EV, predicting it would perform well in the Chinese market. “On paper, it looks impressive in terms of both performance and technology,” Rainford said, highlighting the car’s seamless integration with Xiaomi smartphones.
Rainford added that Xiaomi’s EV appears to target a premium market, stating, “They clearly believe their car rivals, if not surpasses, Porsche and Tesla’s flagship models. That’s a bold ambition for a company primarily known for consumer electronics.”
Xiaomi did not disclose the price of the SU7 at the event, but Lei hinted it would be “somewhat expensive.”
Xiaomi’s EV launch coincided with Huawei’s introduction of the Aito M9, a luxury SUV with a starting price of 469,800 yuan (approximately $66,500). Huawei touted the vehicle’s spacious interior, cinema-like projection screen, and premium features such as massaging seats and double armrests for added comfort during travel.
Both releases are entering China’s highly competitive auto market, the largest in the world, which has recently experienced intense price competition due to excess inventory and fierce rivalry.
Last month, Huawei also launched an electric sedan designed to challenge Tesla, underscoring the growing presence of tech giants in the EV industry.
