Xiaomi’s new EV: Price, specs, all you need to know

New entrant: Chinese tech giant Xiaomi held a launch event for its first electric vehicle (EV) model in Beijing on Thursday (March 28, 2024), marking the smartphone firm’s entry into the hyper-competitive new energy vehicle (NEV) market in China and the rest of the world.

Bold move: Xiaomi’s CEO Lei Jun says the SU7 is 3 years in the making and developed in-house. Some say the SU8 looks a bit like a Tesla, while others say it looks strikingly similar to a Porsche Taycan.

BYD, Tesla competitor: Based on its specs, the Speed Ultra 7 (SU7) is seen as a direct competitor of the Tesla Model S – at 196 inches long and up to 800-km recharge range (as per CLTC). Lei said he is now putting his “reputation on the line” with the SU7 EV. The company started taking orders starting Thursday.

Sleek, sporty: The Xiaomi SU7 – available in blue bay, olive green or elegant grey – and even includes a number of bells and whistles, including “sound simulation”, to recreate the thrill of driving a sports car.

Price: The introductory prices range from 215,900 yuan ($30,431) to 299,900 yuan ($41,490). Given China's ultra-competitive EV sector which has grown rapidly in recent years, the price could see a downward pressure as dozens of domestic automakers are engaged in a stiff price war to get ahead in a crowded market.

Speed: Xiaomi states the SU7 can go from 0 to 100 km/h in 2.6 seconds, with a top speed of 265 km/h. It is fitted with air suspension, while the Porsche Taycan-like design results in a drag coefficient of 0.195Cd, claimed to be “the lowest of any production car in the world”.

Battery: It is powered by up to 150 kilowatt (kW) cell-to-body-pack made by Chinese battery-making giant CATL, one of Tesla's top suppliers of lithium-iron phosphate battery cells.

Lower trims: Next year (2025), lower trims with less range and smaller batteries will be rolled out, according to the company. The 150kW version with 745 miles of CLTC range is also slated to come out in 2025.

Charging: Xiaomi’s SU7’s 800-volt “hyper-charging” system can deliver enough juice to the battery pack in 5 minutes to cover up to 220km in range, and up to 510km range in 15 minutes of charging.

Innovations: Some of the innovations include the use of a "smart chassis", single rear casting (using 9,100-tonne casting machine) which reduces 72 parts into 1 unit, and avoids 840 welded joints yields 17 per cent less weight.

Self-driving: The company said the SU7 also comes with the “Xiaomi Pilot” self-driving feature that uses lidar, radar, ultrasonic sensors and cameras. It also comes with Nappa leather seats, 18.2-cu ft of trunk space, 3.7-cu ft “frunk” space – and an all-glass roof.

Crowded house: Xiaomi, known around the world for affordable smartphones, scooters and sleek home appliances, is entering a crowded market at a time when the government’s EV purchasing subsidies have already been discontinued (since late-2022).

Challenges: BYD, the world’s top EV maker, has seen a lag in auto sales in the first two months of 2024. XPeng – one of BYD's top competitors in China – last week reported a net loss of 10.4 billion yuan ($1.4 billion) in 2023. Competition is heating up EV makers across the world are under pressure to compete on price and features.