Chinese smartphone maker Xiaomi took the wraps off its first electric vehicle on Thursday and promptly announced it was aiming to become one of world’s top five automakers.
The sedan, dubbed the SU7, is a highly anticipated model that is expected to make the most of its shared operating system with the company’s popular phones.
But the car – likely to go on sale in several months – is making its debut at a time when China’s auto market – the world’s largest – is wrestling with a capacity glut and slowing demand that have stoked a bruising price war.
That didn’t stop Xiaomi Chief Executive Lei Jun from outlining big ambitions.
The SU7 is also expected to appeal to customers due to its shared operating system with Xiaomi’s popular phones and other electronic devices. Its drivers will have seamless access to the company’s existing portfolio of mobile apps.
Amid one of the coldest Decembers for China on record, the SU7 was also being positioned to appeal to consumers worried about winter. Lei said it had fast-charging capabilities in low temperatures and is equipped with advanced tech allowing it to recognize obstacles under challenging conditions such as falling snow..
Lei’s ambitions failed to boost Xiaomi’s share price however with the company’s Hong Kong-listed stock giving up earlier gains to finish 0.3% lower.
Covered By: Mobility India / Xiaomi
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