Xiaomi Aims to Rival Porsche and Tesla with New Electric Car

Customers are looking at Huawei's Aito M9 model at a store in Shanghai on December 27.

Chinese tech giant Xiaomi has unveiled its inaugural electric car, the SU7 sedan, following Huawei’s recent launch of its Aito M9 SUV. Both companies, primarily known for smartphones and consumer electronics, are venturing into the competitive electric vehicle market.

In 2021, Xiaomi committed a $10 billion investment over the next decade to focus on smart EVs, with CEO Lei Jun expressing the ambition to be among the world’s top five automakers in the next 15 to 20 years. During the launch event, Lei acknowledged the challenge of building a quality car but suggested that Xiaomi’s offering rivaled Tesla’s Model S and Porsche’s Taycan Turbo.

Automotive industry commentator Mark Rainford praised Xiaomi’s electric car as a compelling product with strong performance and technology features, anticipating success in the Chinese market. Despite being recognized as a consumer electronics brand, Xiaomi appears to target a premium market, aiming to compete with flagship models from Porsche and Tesla.

While the exact pricing was not disclosed at the event, Lei hinted that it would be on the higher side. Xiaomi’s entry into the electric vehicle sector coincides with Huawei’s launch of the Aito M9, a six-seater SUV with premium features designed for comfort and entertainment.

As both companies enter China’s bustling auto market, the competition intensifies, contributing to a price war in the world’s largest automotive market. Huawei had previously launched an electric sedan to compete with Tesla.

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