Chinese smartphone manufacturer Xiaomi declared that it wanted to rank among the top five automakers in the world after unveiling its first electric car on Thursday.
The much-awaited sedan, known as the SU7, is predicted to maximize the benefits of using the same operating system as the company’s well-liked phones.
Building “a dream car comparable to Porsche and Tesla” is just one of Xiaomi Chief Executive Lei Jun’s lofty goals. “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,” he stated.
Similar to a number of other tech companies, Xiaomi has been attempting to expand into EVs as a side business, a strategy it initially announced in 2021.
It is one of the few new entrants into China’s EV market, as regulators have been hesitant to contribute to the surplus of supplies. It has committed to investing $10 billion in cars over the next ten years.
A division of the state-owned manufacturer BAIC Group will manufacture the Xiaomi-branded automobiles at a Beijing plant with a 200,000 vehicle capacity annually.
