Xiaomi to enter in EV market: Xiaomi to begin a war against established players in the market in 2024

Xiaomi to enter in EV market

Xiaomi to Enter in EV Market: Xiaomi is a manufacturer of electronics and consumer-related appliances. It comes under the top 5 global Smartphone companies followed by Apple, Samsung, Oppo, and Vivo. It was founded in 2010 and in just a few years it made its place among the top 5 global brands. (Xiaomi to enter in EV market)

Recently, Xiaomi CEO Lei Jun unveiled SU7 the first ever EV by Xiaomi in Beijing.
CEI Lei Jun said it would take away Tesla and other EV cars from the market. Further added, In the next 10 to 15 years Xiaomi EV will be among the top 5 car-making companies.

Tesla CEO Elon Musk said in an interview with “The New York Times” that in the future Chinese car manufacturers will dominate the car market in the world and there are many people who believe that 9 out of 10 car companies will be dominated by Chinese car companies.

Xiaomi to Enter the EV Market The news was announced on 28, December 2023 by the CEO of Xiaomi Lei Jun, who unveiled their first-ever EV and said they aim to become an EV company among the top 5 brands in the next 10 to 15 years.

Xiaomi to enter in EV market

The CEO of a Shanghai-based Advisory firm told Reuters, that Xiaomi is among the top five smartphone brands in the world and this is a future generation and gradually becoming a smart product like smartphones, They have a (Xiaomi) Significant opportunity to become a leading EV car company in the world.

Xiaomi has over 100 million users around the world. Xiaomi EV car will have the significant pros to use the Xiomo EV car while using the Xiaomi smartphone.

The EV which was unveiled on Thursday named SU7 or Speed Ultra. Xiaomi EV will share the operating system with the Xiaomi smartphone. Apple is also rumored to make an Apple EV which will follow the operating system of iOS. Same as Xiaomi EV will follow the operating system of the Xiaomi smartphone.

According to reports, The Xiaomi SU7 will have 5 people seating capacity. This will have a range of approximately 500 miles and its top speed will be 165 miles per hour. It includes a super motor that will accelerate faster than Tesla.

To be in the top 5 Xiaomi will have to fight with many rivals like “BYD” conglomerate company and “Tesla”. Along with those two companies, many companies are fighting a price war to establish their company in the market. Recently news flooded that “Nio” lost $35,000 on each car they sold.

Xiaomi to enter in EV market:

CEO of Xiaomi Lei Jun didn’t reveal the Price of the upcoming SU7. According to the reports, they are spending a very high amount on labor. Generally, the new car manufacturer company does not spend that high amount on their first product.

In several months the SU7 will be on sale. He added the price of SU7 will be a bit high.

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