Xiaomi to showcase its first electric car, the SU7 EV, in India tomorrow: Report
Synopsis
Xiaomi will showcase its first electric car, the SU7, in India on July 9 as a market test. The car comes in two versions with different driving ranges and is priced competitively. The event in Bengaluru will also feature other household appliances and new product categories.
The SU7, also known as the Speed Ultra, is a significant project for Xiaomi, with a global investment of USD 10 billion into the automotive sector. Deliveries of the SU7 began in China in March, where it has seen a strong initial reception. The base model of SU7 is priced under USD 30,000 (around INR 25 lakh). This is approximately USD 4,000 (INR 3.3 lakh) cheaper than the base model of Tesla's Model 3 in China.
Last week, the Times of India claimed that the company plans to showcase the SU7 in Bengaluru to demonstrate "the strength of Xiaomi as a brand and show its diversified product portfolio, beyond smartphones which currently is its biggest consumer product".
"The car will be on display and the company plans to showcase a number of household appliances and even announce its entry into newer categories," the report quoted a source as saying.
Xiaomi has been seeking to diversify beyond its core business to EVs amid stagnating demand for smartphones - a plan it first flagged in 2021.
The smartphone giant has pledged to invest $10 billion in autos over a decade and is one of the few new players in China's EV market to gain approval from authorities who have been reluctant to add to a supply glut.
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