Xiaomi Launches SU7 EV: A High-Tech, Affordable Competitor to Tesla

The Chinese tech giant's first electric vehicle has garnered over 100,000 preorders, signaling strong market interest.

Xiaomi's SU7 EV, with options ranging from $30,000 to $41,500, offers impressive specs including a range up to 497 miles, acceleration from 0 to 62 mph in 2.78 seconds, and advanced smart cabin controls.
Despite its competitive pricing and features, Xiaomi has no immediate plans to introduce the SU7 in the U.S., aiming instead to challenge Tesla's dominance in China.
The company's entry into the electric vehicle market follows a $10 billion investment and marks a significant shift from its smartphone roots.
Xiaomi's share price surged 8.97% following the launch, reflecting investor confidence in the company's automotive venture.
The global EV market is experiencing a slowdown, with Tesla reporting reduced sales growth, while Xiaomi's debut could potentially shake up the industry.