Xiaomi wants to make your dream car. When the Chinese smartphone maker first launched its electric car earlier this year, it entered a market saturated with fast-growing local and global automakers. But demand for Xiaomi’s EVs has been much stronger than expected. It has a real chance of unseating bigger, older rivals.
After entering the EV market with a $30,000 model in March, Xiaomi is now taking a bet on luxury. It launched a version of its SU7 electric sports car in late October, priced at $114,000. This puts the EV in direct competition with Tesla’s Model S Plaid in China, which sells for a similar price.
The SU7 Ultra’s features, including acceleration and top speed specifications, are competitive with global peers’ models. It set a record at Germany’s 20km Nürburgring track — considered a benchmark of performance — with a 6.46 lap time, accelerating from 0 to 62mph in 1.97 seconds and reaching a top speed exceeding 217mph.