For some time now, more and more tech brands have been interested in cars. This is, for example, the case of Xiaomi.

Xiaomi SU7 is very affordable

The Chinese firm, especially known for its smartphones and electric scooters, has just lifted the curtain on its new SUV. For the record, this is a large sedan measurement The length is 4.99 meters and which competes with the Tesla Model S as well as the Porsche Taycan. And now we already know the price of this novelty, which leaves no room for competition. In fact, the cost of an electric car starts at 215,900 yuan (or approximately 27,649 euros). For comparison, the Tesla Model 3 starts at 245,900 yuan in China, or 31,500 euros. An intermediate version of the SU7, equipped with a Battery 94.3 kWh, is also offered at the same price. As for the high-end version equipped with a 101 kWh battery, it costs 299,900 yuan (about 38,400 euros). Suffice to say, the new SU7 should be a big hit with motorists wherever it goes on sale.

Losing sales of Xiaomi SU7

But not everything is rosy. Indeed, in a statement reported by CarNewsChina journalists, Xiaomi CEO Lei Jun claims that the latter will lose money due to the car’s very aggressive pricing policy. Although it is really cheaper than Tesla Model 3 in China, the SU7 doesn’t offer particularly revolutionary technology at this price, even if its batteries are slightly larger than those of the American sedan, known for its exceptional economy. Also, it’s important to note that Chinese EVs tend to be much more expensive outside of the domestic market. Also note that Chinese manufacturers benefit from government subsidies that allow them to offer such low prices on their cars. So, if the Xiaomi SU7 were to be sold in Europe, it would inevitably be offered at a higher price.

It remains to be seen whether this car will be able to establish itself in its market, as well as in the rest of the world, for many years to come.