Xiaomi launches an electric car for $4 thousand cheaper than Tesla’s Model 3

The Chinese electronics giant Xiaomi, known for its smartphones and other equipment, has announced the launch of its first electric car, which will cost $4 thousand. cheaper than the popular Tesla Model 3. Xiaomi’s move comes amid escalating price wars in the Chinese electric vehicle market, where there is intense competition between manufacturers.

The Xiaomi car, called SU7, will be sold at a price of 215,900 yuan ($30,408), which is 30,000 yuan cheaper than the starting price of the Tesla Model 3 in China. Xiaomi CEO Lei Jun noted that the company sells every car at a loss, but this step is part of a strategy to conquer the market.

The main advantages of the SU7 over the Model 3 include better technical characteristics in almost all respects, except for two aspects where Xiaomi recognizes the need for additional improvements over the next 3-5 years. In particular, the SU7 boasts a range of 700 kilometers on a single charge, which exceeds Tesla’s performance.

The company has already received more than 50,000 orders for SU7 in just 27 minutes after the launch of sales, which indicates a high interest in the new product. Deliveries are scheduled to begin by the end of April.

Xiaomi also introduced a number of accessories for the SU7, including a car refrigerator, a front window curtain, a smartphone holder, and announced support for Apple Car Play and integration with the iPad. This further expands the company’s device ecosystem, which includes phones, home appliances, and other products.

In a market where competition is becoming increasingly fierce, Xiaomi is entering the game with a strong position, offering a powerful electric car at an affordable price. This step could strengthen the company’s position not only in the electronics market but also in the electric vehicle segment, displacing American competitors.

Source CNBC
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