Lei Jun, the billionaire co-founder and CEO of Chinese smartphone maker Xiaomi, unveiled the company’s maiden electric car today (Dec. 28). Jun did not divulge many details about its forthcoming SU7—including the exact timeline of its launch or its price—but he did say that Xiaomi harbors ambitions of becoming a leading player in the global industry.
“After three years of making cars, I realized how hard this venture is,” Jun said said at the China National Convention Centre in Beijing, where the new vehicle was unveiled. “But after 15 to 20 years of hard work, we aim to build Xiaomi into one of the world’s top five electric vehicle companies.”
The announcement comes on the eve of Chinese automaker BYD’s expected displacement of Elon Musk’s Tesla as the world’s biggest seller of fully electric vehicles.
Jun believes Xiaomi isn’t too late to the autonomous driving party. “Self-driving technologies are changing very fast, and starting late has its advantages,” he said. “It means we can work from a higher threshold and build from there.”
The company is working with Beijing Automotive Industry Holding Co. (BAIC) to manufacture the SU7.
Xiaomi’s EV ambitions, by the digits
3,700: Members of Xiaomi’s automotive division working on a car that can compete with renowned brands like Porsche and Tesla
10 billion chinese yuan ($1.4 billion): Xiaomi’s R&D investment to make this car
150: Different cars CEO Jun has apparently driven since he committed to make Xiaomi’s in 2019
3: Colors the car is available in—Aqua Blue, Mineral Gray, and Verdant Green—according to Xiaomi chief marketing officer Anuj Sharma
800 km: The Xiaomi SU7’s range
21,000 rpm: Motor speed that will power Xiaomi’s SUV—above that of the Tesla Model S Plaid (20,000 revolutions per minute) and Taycan Turbo S (16,0000 rpm)
300,000: Reported annual production capacity at Xiaomi’s Beijing factory.
Quotable: Xiaomi is inspired by and rivals Porsche, Tesla
“The Xiaomi SU7 isn’t built to chase any specific competitor. Inspired by extensive user research, we designed the SU7 to fulfill the diverse aspirations of our customers. We’ve engineered the SU7 to offer a level of driving performance that stands among the best in its class, including the Porsche Taycan Turbo. We’ve prioritized intelligent technology, drawing inspiration from the advanced systems in cars like the Tesla Model S. The Xiaomi SU7 offers advanced technologies and a supportive ecosystem to enhance your driving experience.”