Xiaomi SU7 EV prices, specs, availability, and more

The Xiaomi SU7 EV has finally been announced after months of leaks and speculations. After announcing the car this Thursday, the company revealed their ambitious plans to become one of the top five automakers in the globe by investing and growing their portfolio over the next 15-20 years.

Their first EV is targeting the premium sports segment and will directly compete with the likes of the Tesla Model S and the Porsche Taycan EV. According to Xiaomi Chief Exec Lei Jun, it will be on the more expensive side and require a significant investment.

This development comes at a time when the Chinese automobile industry is struggling with a capacity glut. Like some Western markets, demand for electric vehicles has been slowing in the country, which adds to the problems faced by the world's largest EV producer.

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Xiaomi SU7 EV specs and features

The engine powering the SU7 sedan (Image via Xiaomi)

The Xiaomi SU7 is being manufactured by the state-backed BAIC Group. It will be made in a Beijing factory with an annual capacity of 200,000 vehicles.

According to Jun, the car bundles an engine capable of producing accelerations faster than its Tesla and Porsche equivalents. This earns it the name "Speed Ultra," which is a "super electric motor." For the sake of simplicity, the car has been named SU7.

The car will be offered in two variants. One with a driving of up to 415 miles (668 km) and the other with a whopping range of 497 miles (800 km). This places it as a leader in the segment. In comparison, the Porsche Taycan has a range of 246 miles, and the Tesla Model S can go up to 405 miles.

The car will also have specific features built in to withstand the cold Chinese winters. It is being paired with fast-charging capabilities at low temperatures, as per the CEO. Moreover, it will also feature smart capabilities, including obstacle detection.

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Xiaomi SU7 EV prices

The Xiaomi EV will be a bit on the expensive side (Image via Xiaomi)

Lei Kun has said that the cost would "indeed be a bit high, but one that will have everyone will think is justified." Previous reports have indicated the base model of the car will be priced at 400,000 RMB (around $60,000). In comparison, the Tesla Model S starts from $74,990, and the Porsche Taycan will cost $90,000 at the minimum.

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Xiaomi SU7 EV availability: Will it come to the United States?

The EV sedan features a fantastic design (Image via Xiaomi)

Up until now, there has been no word on the EV sedan's availability, and it looks like we are still months away from a launch. However, based on the introductory presentation, it is very likely that the Xiaomi SU7 will only be launched in China. Western markets will probably not get the car, especially because the company is absent in key demographics like the United States.

However, Xiaomi appears to be intent on excelling in the Chinese automobile industry. They have pledged a mind-numbing investment of over $10 billion over the next few years.

Here's what the CEO had to say about the company's plans:

"By working hard over the next 15 to 20 years, we will become one of the world's top 5 automakers, striving to lift China's overall automobile industry."

It's definitely going to be an uphill battle for the smartphone maker. Leaders in the market, like BYD and Tesla, are established pretty well in China. However, experts believe that Xiaomi's previous experience and dominance in the consumer electronics and smartphone market will help them significantly.