2 months ago
29
As the Indian EV market grows, Xiaomi’s entry could significantly increase competition, especially as other international players like BYD from China and VinFast from Vietnam are also looking to establish a presence in the country read more
 "Xiaomi to enter India's EV market? Tech giant showcases SU7 EV at 10th-anniversary event")
The design of the SU7, inspired by Porsche’s sleek styling, coupled with a competitive pricing strategy that undercuts Tesla’s Model 3, has sparked a fierce price war in China’s extensive auto market. Image Credit: Xiaomi
Chinese tech powerhouse Xiaomi, is widely recognised for the manner in which it has dominated India’s smartphone market. Now, it looks like the Chinese tech giant is gearing up for a bold new venture, and entering the electric vehicle (EV) sector in India.
During its 10th anniversary celebration in India, Xiaomi took the opportunity to showcase its very first all-electric sports sedan, the Xiaomi SUV7. This move signals Xiaomi’s ambitious plans to diversify and innovate beyond its established tech products.
The Xiaomi SUV7, officially named the Speed Ultra (SU7), was initially launched in China in March. This marked a significant milestone for Xiaomi as it stepped into the automotive industry. Reports suggest that Xiaomi has invested a massive $10 billion into its EV ventures.
Luckily for them, the vehicle has already seen impressive success in China. In just days of unveiling the EV, Xiaomi had over 70,000 bookings. Initially, they had set a target for themselves, to deliver 100,000 EVs by the end of the year.
The SU7 is priced around ₹25 lakh ($30,000) in China, making it a competitive alternative to the more expensive Tesla Model 3, which is about $4,000 pricier.
The timing of Xiaomi’s showcase in India is particularly notable. Other international carmakers like BYD from China and VinFast from Vietnam are also eyeing the Indian EV market, indicating a potential boom in this sector.
The Xiaomi SU7 is a substantial vehicle, measuring 4,997 mm in length, 1,963 mm in width, and 1,455 mm in height, with a wheelbase of 3,000 mm. It features a 105-litre front trunk and a 517-litre boot, providing ample storage space.
In China, the car is available in two variants, offering driving ranges of up to 668 km and 800 km on a single charge. The vehicle boasts a top speed of up to 265 kmph and can accelerate from 0 to 100 kmph in under three seconds, showcasing impressive performance capabilities.
While it’s unlikely that the Xiaomi SU7 will be available for sale in India in the near future, its showcase suggests that Xiaomi is exploring opportunities to expand its product offerings. As the Indian EV market grows, Xiaomi’s entry could significantly increase competition, especially as other international players are also looking to establish a presence in the country.
Xiaomi’s entry into the EV market could catalyze further developments and innovations within the sector. Xiaomi has ambitious plans for the SU7, aiming for over 100,000 deliveries this year and focusing primarily on the Chinese market for the next three years.
To meet the high demand, Xiaomi accelerated the deliveries of the standard and Max versions of the SU7 to April 18, twelve days ahead of schedule. Additionally, the company plans to introduce Pro models by the end of May.
The design of the SU7, inspired by Porsche’s sleek styling, coupled with a competitive pricing strategy that undercuts Tesla’s Model 3, has sparked a fierce price war in China’s extensive auto market. Competing automakers have responded with price cuts and subsidies to counter Xiaomi’s aggressive entry.
With Tesla currently out of the picture in India, Xiaomi might see this as a golden opportunity to step in. Elon Musk recently withdrew from discussions with Indian officials about setting up Tesla factories in the country, leaving a potential gap in the market.
This could be Xiaomi’s moment to capitalise on the absence of a major player like Tesla and make a significant impact on the Indian EV market. Xiaomi’s strategic timing and innovative product offerings could pave the way for its success in the rapidly evolving EV landscape.
){kind=tracking}
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
English (US) ·