Xiaomi SU7 Electric Vehicle

The demand for electric cars worldwide is rapidly increasing. Meanwhile, China's electric car market is achieving high growth in its products, capable of providing strong competition to Tesla.

A product that has recently garnered significant global attention in the Chinese electric car manufacturing market is the Xiaomi electric vehicle. Chinese smartphone manufacturer Xiaomi has launched its first electric vehicle (EV) and started taking orders.

More than 100,000 orders have been received so far, and Xiaomi announced today that it has started releasing new cars for these orders.

Its CEO Lei Jun states that the Speed Ultra 7 (SU7) is expected to be sold for less than 500,000 Yuan ($69,186; £54,836). This is already a challenge to existing electric vehicle market products from Tesla and BYD.

Research firm Counterpoint says that Xiaomi already accounts for about 12% of the global smartphone market and is the third largest smartphone seller worldwide.

According to data from the China Association of Automobile Manufacturers, in 2023, China's automobile production was 30,161,000 units, and sales were 30,094,000 units.

Among these, the number of exported automobiles was 4,910,000. This is a significant growth of 58% compared to 2022. China is expected to become the world's largest country for automobile exports as a result.

Currently, over 200 countries and regions export Chinese automobiles. Meanwhile, new energy vehicles have become an important pillar of China's automobile industry. In the fourth quarter of 2023, BYD, a Chinese brand, took the lead globally as an electric vehicle manufacturer.

Xiaomi company released a video about the SU 7 electric vehicle.