Xiaomi's New EV Challenges Porsche, Tesla
Image Credit: Xiaomi Website China’s Xiaomi, a big name known for its smartphones and other cool gadgets, has just rolled out its very first electric car (EV).
The news broke on the heels of Huawei, another tech titan, launching its own electric vehicle, with both Chinese tech giants zooming into the EV scene, showing they’re serious players in this race.
What’s the news on Xiaomi’s new ride?
They’ve unveiled the SU7 sedan, which was just a couple of days after Huawei showed off its Aito M9 SUV. Both of these companies have built their reputations on smartphones and consumer electronics, but now, they’re steering towards the auto industry with big dreams.
Rewind to 2021, and you’ll remember Xiaomi announcing a massive $10 billion investment over the next decade in a smart EV subsidiary. Their CEO, Lei Jun, was all about the future at the launch event. He’s got his sights set on making Xiaomi one of the top five automakers in the world in the next 15 to 20 years. Lei Jun is confident, saying he can see a future where Xiaomi cars are cruising down every road worldwide.
Huawei is putting all its focus on a model that’s looking to rival Tesla’s Model S. During a lengthy three-hour presentation, Lei Jun admitted that creating a heart-winning car isn’t easy. But, they believe they’ve cooked up something that can stand head-to-head with Tesla’s Model S and Porsche’s Taycan Turbo. Jun even did a side-by-side performance stats comparison to drive his point home.
Mark Rainford, a prominent figure in the automotive industry and host of the YouTube channel “Inside China Auto,” is calling Xiaomi’s car a hit. Rainford thinks it’ll do great in the Chinese market. The car seems to have the right mix of performance and tech, and it syncs up nicely with Xiaomi’s smartphones.
There’s a bit of a plot twist, though.
Xiaomi is aiming high and targeting the luxury market, something a bit different from their usual lane. Rainford noted that it’s quite a leap for Xiaomi, traditionally seen more as a consumer electronics brand than a luxury automaker. They didn’t spill the beans on the price at the launch, but Lei Jun hinted that it might be on the higher side.
And across the room, we find that Huawei isn’t just sitting back. They’ve just launched the Aito M9, a six-seater starting at about $66,500. It’s got some fancy features like a projection screen for a cinema-like experience and seats with massage functions. Talk about riding in style!
Both of these launches add more options to China’s already bustling auto market. The world’s biggest auto market has been seeing a bit of a price war recently due to stiff competition and high inventories. And let’s not forget, Huawei’s also got an electric sedan designed to compete with Elon Musk’s Tesla.
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