Chinese rival Tesla’s first electric vehicle may not be as cheap as expected – Xiaomi (OTC:XIACY)

The flagship model of Xiaomi Corporation XIACIA The first entry into the electric vehicle market, the Xiaomi SU7, would be priced at around $50,350, Chinese media reported.

What happened: According to CnEVPost, the highest variant of the Xiaomi SU7 will be priced at RMB 361,400 ($50,350) including insurance, according to local media Jiemian, which cited an anonymous source from a “major” insurance company.

The entire vehicle range is expected to be priced between RMB 250,000 ($35,230) and RMB 370,000. The SU7, equipped with a CATL lithium ternary battery, can reach a maximum speed of 265 km/h. However, this pricing information is still awaiting official confirmation Xiaomi.

WangHua, head of Xiaomi’s PR division, revealed on Weibo that some vehicles are licensed as part of the sales, delivery and service procedures. He did not comment on the alleged price of the SU7.

First unveiled in late December, pricing details for the Xiaomi SU7 have not been shared. For context, TeslaThe Model 3 sedan in China starts at RMB 245,900.

See also: UAW president says they ‘can’t understand’ Trump-supporting truck drivers who ‘biked through White House staff like TOI’

Because matter: Xiaomi, founded in 2010, has built a reputation for high-quality smartphones at reasonable prices. With the SU7, the company aims to replicate this success in the electric vehicle sector.

With She Jun, CEO of Xiaomi, confirming that the SU7 is in the test production phase, the market eagerly awaits the official launch of the vehicle and the price announcement. Analysts at Morgan Stanley have pointed to a positive outlook for Xiaomi’s potential in the electric vehicle market.

Xiaomi’s foray into the electric vehicle sector is not surprising. She is investing heavily in this sector as part of a larger plan to create a Xiaomi ecosystem of interconnected smart devices. The move into the electric vehicle market is seen by many as a natural progression for the tech giant, known for its successful smartphone business.

Read next: Tesla will achieve 550% growth by 2030, says fund manager David Baron: Elon Musk ‘won’t do anything’

Image credits – Xiaomi

Designed by
Benzinga NeuroBy

Ramakrishnan M

The GPT-4-based Benzinga Neuro content generation system leverages Benzinga’s extensive ecosystem, including native data, APIs, and more to create rich, timely stories for you. Learn more.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *