Xiaomi launches its first electric vehicle, the SU7, in the competitive Chinese EV market.
Chinese tech giant Xiaomi is entering the crowded electric vehicle (EV) market, launching its first EV, the SU7. Known for its affordable smartphones and home appliances, Xiaomi aims to capitalize on its technology by connecting its cars with its devices, creating a "Human x Car x Home" ecosystem. Xiaomi faces competition from market leaders Tesla and BYD, and analysts predict the EV market in China will continue to grow, with combined share of EVs and hybrids in auto sales estimated to reach 42% to 45% this year.
March 27, 2024
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