Chinese company Xiaomi launches first electric vehicle
March 28, 2024
Chinese electronics maker Xiaomi launched its first electric vehicle in China on Thursday and began taking orders for the car via an app.
The company’s first EV is called the SU7 and is a four-door sports sedan. The price of the vehicle is estimated by analysts at 300,000 yuan (37,000 euros, 40,000 dollars).
The low price should help it compete with foreign competition. Government subsidies have helped China become the world’s largest market for electric vehicles, with sales remaining primarily domestic.
Xiaomi plans to be among the world’s top five automakers in the next 15 to 20 years.
‘Human x Car x Home’ Ecosystem
Xiaomi is well known in China for its smartphones and other electronic devices.
“You probably don’t know anyone in Beijing who doesn’t have at least one Xiaomi product, be it a cell phone, computer, TV, (air) purifier or tablet,” said the founder of consultancy Sino Auto Insights, Tu Le. he told the AP news agency.
He added that the company intends to integrate transport into its product line, which is already part of its customers’ personal and professional lives.
Xiaomi plans to capitalize on its products by connecting the car with its phones and other technologies, creating what it calls a “Human x Car x Home” ecosystem.
EU and US criticize China’s EV aspirations
While the EU is investigating Chinese subsidies to see if they allow Chinese-made EVs to unfairly benefit from foreign markets, the US has also announced an investigation into Chinese-made connected cars.
They are concerned that cars could collect sensitive information about drivers.
Source: DW
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