Xiaomi Falls Into The Electric Car Industry, Aims For The Top 5 Of The World

JAKARTA - The smartphone giant from China, Xiaomi, has finally officially launched its first electric car, SU7 on Thursday, December 28. The company's planned expansion to EV has been announced since 2021, following other Chinese technology companies such as Huawei and Baidu.

In a presentation by Xiaomi EV Technology Launch broadcast via the company's Youtube channel, Xiaomi CEO Lei Jun, emphasized his big ambition to become one of the top five car manufacturers in the world.

"With hard work over the next 15-20 years, we will be one of the top 5 car manufacturers in the world, and try to lift China's automotive industry as a whole," he said at the launch.

The sedan, which is predicted to have "super electric motor" technology, promises faster acceleration and faster battery charging, even Xiaomi's autopilot capability is also claimed to be at the forefront of the electric car industry today.

However, reported by Reuters on December 29, SU7's debut comes at a time when the Chinese car market, which is the world's largest car market, is facing overcapacity and declining demand.

SU7 is also expected to attract consumer interest thanks to its integrated operating system with Xiaomi phones and other electronic devices. Drivers will have easy access to familiar Xiaomi mobile applications.

SU7 comes in two versions: with a distance of up to 668 km and 800 km in one charge, surpassing the Tesla Model S which only has a range of 650 km.

Meanwhile, prices have not been announced, but Lei only said the price will be slightly high but will be understood by everyone.

SU7 is also positioned to attract consumers worried about winter. Lei claims the car has fast charging capabilities at low temperatures and is equipped with advanced technology that allows introduction of barriers in challenging conditions such as snowfall.

Xiaomi has been committed to investing $10 billion in automotive for a decade and becoming one of the new players in China's EV market that is licensed by the government. Their cars will be manufactured by units from state-owned manufacturer BAIC Groups in Beijing with a capacity of 200,000 units per year.

In China's extremely crowded EV market, SU7's toughest competition is likely to come from BYD which controls a third of its market share and Tesla with 9 percent.