Xiaomi has started selling its first electric car, the SU7, and announced that it would sell it much cheaper than Tesla’s Model 3. The actual price of the novelty was even slightly lower, than previously expected.
Xiaomi CEO Lei Jun said that the standard version of the SU7 will be sold in China for 215,900 yuan ($30408). The price he mentioned means that the company sells each car at a loss. Meanwhile, the Tesla Model 3 starts at 245,900 yuan ($34020) in China. According to the industry website Autohome, the Model 3 is the best-selling new electric sedan in China.
Lei claimed that the standard SU7 version is superior to the Model 3 in more than 90% of its characteristics, except for two aspects. It may take Xiaomi at least 3 to 5 years to catch up with Tesla in these areas where it currently lags.
Xiaomi SU7 supports Apple Car Play and can integrate with the iPad, Lei said. He also talked about a driver assistance system for highways and cities that will be fully available in China in August.
The Chinese company plans to start delivering the Xiaomi SU7 electric car by the end of April. Lei Jun said that Xiaomi’s car factory, for which all «key» stages are fully automated, can produce a new SU7 car every 76 seconds. It is not yet known whether the factory is fully operational.
The Xiaomi SU7 enters the fiercely competitive Chinese market, where companies are launching many new models and cutting prices to attract consumers. Xiaomi is targeting 20 million users for its new electric vehicle. The SU7 will initially be sold to consumers in China and will take at least 2-3 years to launch abroad.
Along with the car, Xiaomi also plans to sell many branded accessories. Among them are a car refrigerator, a custom-made front window curtain, and a smartphone holder. Some of them are available free of charge when buying a car until the end of April, while others are available at a separate price.
Source: cnbc