Tag: xiaomi ev

Xiaomi SU7 Price Teased by CEO Lei Jun Ahead of Official Launch

Xiaomi’s CEO said on Monday his goal for the firm’s first electric vehicle was that it would be the “best looking, easiest to drive and smartest car” priced below CNY 500,000 (roughly Rs. 57,93,508), as the Chinese electronics maker gears up for orders this week.

The company will on Thursday evening announce its official price range and start taking orders for the car, dubbed the SU7, with the SU short for Speed Ultra. CEO Lei Jun’s comments, made on his official Weibo account, mark the first time the company has confirmed the upper end of its price range.

Anticipation for the car has been building up since Xiaomi unveiled the vehicle in December and announced it aimed to become one of the world’s top five automakers. Lei has touted it as having technology capable of delivering acceleration better than Tesla cars and Porsche’s EVs.

Xiaomi stores in China also began displaying the car on Monday, with prospective customers and car bloggers lining up to get a close view of the “ocean blue” version. In addition, the company uploaded its “Xiaomi Car” app to Chinese app stores.

The SU7 will come in two versions – one with a driving range of up to 668km (415 miles) on a single charge and another with a range of up to 800km. By comparison, Tesla’s Model S has a range of up to 650km.

China’s fifth-largest smartphone maker has been seeking to diversify into EVs amid stagnating demand for smartphones – a plan it first flagged in 2021. Other Chinese tech companies that have partnered with automakers to develop EVs include telecoms giant Huawei HWT and search engine firm Baidu.

Xiaomi has pledged to invest $10 billion (roughly Rs. 83,500 crore) in autos over a decade and is one of the few new players in China’s EV market to gain approval from authorities, who have been reluctant to add to the supply glut.

Its cars are being produced by a unit of state-owned automaker BAIC Group in a Beijing factory with an annual capacity of 200,000 vehicles.

© Thomson Reuters 2024

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Xiaomi SU7 Electric Vehicle Officially Teased, Confirmed to Run on HyperOS

Xiaomi’s first launch event explicitly focusing on EV technology will take place later today (December 28). Ahead of it, the electronics brand has posted a teaser on social media offering a glimpse at the company’s first-ever passenger car, an all-electric sedan called the Xiaomi SU7. The SU in the moniker stands for Speed Ultra. The four-wheeler is confirmed to come with Xiaomi’s HyperOS operating system. The EV is shown in a sedan-style design with a grey shade with five-spoke alloy wheels paired with Michelin tyres.

Lei Jun, Chief Executive Officer Xiaomi posted the first official look of the upcoming Xiaomi SU7 via X (formerly Twitter). The post includes a caption — ‘Hello, Xiaomi SU7 Welcome to Human x Car x Home’ — suggesting the four-wheeler’s integration with smartphone and smart home accessories. It is confirmed to be powered by the HyperOS operating system.

The poster indicates a grey finish for the Xiaomi SU7. It is seen with a sedan-style design with five-spoke alloy wheels paired with Michelin tyres with a Mi logo on the wheel caps. The side view mirror seems to include a camera similar to a Tesla car. Lei Jun already announced that the company prioritised intelligent technology in the new EV by drawing inspiration from advanced car systems like the Tesla Model S. He has posted a few interesting details about the Xiaomi SU7 including the meaning behind the name.

Xiaomi has already announced that it will host the company’s first EV launch event outside China, dubbed “Stride” on December 28. The event will begin at 2:00pm Beijing time (11:30am IST) and will last for three hours. The event will not see any product release instead Lei Jun confirmed that the focus will be on the technology behind Xiaomi’s first electric car.

The company has not disclosed any technical specifications for the SU7. It is currently in trial production and will hit the domestic market in a few months. Pricing details are still under wraps but Lei Jun promised that it would “exceed your expectations.”

It is likely that Xiaomi may unveil at least three different models with varying ranges and features — Xiaomi SU7, Xiaomi SU7 Pro, and Xiaomi SU7 Ultra. The Xiaomi SU7 is expected to have a 210km/h speed for the lower-end model and the SU7 Max variant may offer up to 265 km/h speed.

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Samsung Galaxy S24 Could Come With Snapdragon 8 Gen 3 SoC in the US and Canada



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Xiaomi Says EV Plans Running Ahead of Schedule Amid Revenue Drop Report

Chinese smartphone maker Xiaomi reported a 4 percent revenue drop in the second quarter, tracking a shrinkage in China’s handset market, but said its move into making electric vehicles was running ahead of schedule.

Sales dropped to CNY 67.4 billion (nearly Rs. 76,450 crore) from CNY 70.17 billion (nearly Rs. 80,650 crore) in the same quarter a year earlier, but beating analysts’ estimates of CNY 65.13 billion (nearly Rs. 74,860 crore).

Net income rose to CNY 5.14 billion (nearly Rs. 5,830 crore) over the period, an increase of 147 percent from CNY 2.08 billion (nearly Rs. 2,390 crore) a year earlier, also beating expectations. The company put the increase down to cost cutting and efficiency improvements, particularly in its physical stores.

“Despite the macroeconomic headwinds in the global market we continue to expand our footprint,” Xiaomi President Lu Weibing said on an earnings call. 

“Several of our peers already exited from certain areas in this challenging environment, but no matter how hard it will be we will reinforce our presence across regions and markets,” Lu said.

Consumer demand in China’s smartphone market continued to shrink in the second quarter, dropping 5 percent to 64.3 million units, according to Canalys, a consultancy that tracks the smartphone industry.

Xiaomi’s shipments declined by 19 percent to 8.6 million, while in major overseas market India, shipments fell 22 percent to 5.4 million units, Canalys said.

In light of declining handset sales, Xiaomi is planning to move into the manufacture of electric vehicles (EVs) and has received approval from China’s state planner, Reuters reported this month.

The company has pledged a $10 billion (nearly Rs. 82,600 crore) investment over a decade in the automobile business.

Lu said the company’s plans to start mass production of EVs in the first half of 2024 remains unchanged. “Our current progress is ahead of expectations and of the original production schedule,” he said.

© Thomson Reuters 2023

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