Xiaomi introduced a premium version of its SU7 electric sports car on Tuesday, announcing that the $114,000 vehicle will be the fastest four-door car in production, directly challenging competitors like Tesla and Porsche.
During a live-streamed product update lasting over three hours, Xiaomi CEO Lei Jun, who is quite popular in China, showcased the SU7 Ultra.
He revealed the pricing, positioning the new electric vehicle alongside the Tesla Model S Plaid and indicating a strategic focus on performance over cost to compete with established automakers.
“This is the world’s fastest four-door mass-produced car currently available,” Lei stated, explaining, “When people ask why we created such a powerful machine, my answer is simple: we’re building a dream car.”
A comparison chart presented during Lei’s talk indicated that the SU7 Ultra surpasses the Porsche Taycan Turbo in both acceleration and top speed.
Lei claimed the new vehicle would outpace the Model S Plaid, though Tesla still offers a superior driving range of 672 km on a single charge compared to the SU7 Ultra’s 630 km.
By pricing the SU7 Ultra similarly to the Model S Plaid in China at 814,900 yuan ($114,200), Xiaomi shifted away from its previous strategy of targeting EV buyers based on value.
Electric motors provide quicker acceleration than traditional combustion engines. Chinese EV manufacturers have been emulating Elon Musk’s initial strategy with Tesla by releasing high-speed cars that showcase technology and innovation in a segment less susceptible to price competition.
Xiaomi announced that the production version of the SU7 Ultra would incorporate carbon-fiber components, including its roof, along with performance ceramic brakes and aerodynamic design features. A prototype had been revealed in July.
Before the Tuesday event, Lei mentioned that the SU7 Ultra prototype had achieved a record lap time at Germany’s challenging Nurburgring track.
The 20.8-kilometer Nurburgring has long been regarded as a standard for vehicle acceleration and handling, granting automakers bragging rights for decades.
Xiaomi aims to produce 120,000 SU7 vehicles by the end of the year and announced that the first SU7 Ultras would be delivered in March. The company began accepting orders on Tuesday, receiving over 3,600 within the first 10 minutes of the car’s launch.
Xiaomi has maintained monthly electric vehicle deliveries in China above 10,000 since June, reaching a peak of over 20,000 vehicles in October.
During the product launch event, the company also introduced its flagship Xiaomi 15 smartphone series, with prices starting at 4,499 yuan ($630), which will be available for purchase starting Thursday.
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