Smartphone giant Xiaomi seems to be keen to shed its ‘affordable brand tag’. The company has taken a significant step into the luxury electric vehicle market with the launch of the SU7 Ultra. Priced at a hefty $114,000, this high-performance EV according to Xiaomi would rank as the fastest four-door car in production in a direct challenge to the likes of Tesla and Porsche.
Xiaomi CEO Lei Jun pricing that put the new EV on a par with the Tesla Model S Plaid and reportedly signaled an intent to compete on performance rather than cost with more established car makers.
Ford CEO has been driving the Xiaomi EV for 6 months
Incidentally, Xiaomi SU7 Ultra is a variant of Xiaomi SU7 that Ford CEO Jim Farley recently expressed admiration for. Farley said that he has been driving the SUV for six months and is quite impressed with its performance and technology integration. In a recent podcast interview, the CEO said that he has been driving the electric vehicle made by Xiaomi and “doesn’t want to give it up.”
“This Xiaomi car… is fantastic. They sell ten thousand, twenty thousand a month,” Farley said. “I don’t like talking about the competition much, but we flew [an SU7] from Shanghai to Chicago and I’ve been driving it for six months now, and I don’t want to give it up.” Ford CEO is said to have imported the car from China as geopolitical tensions have limited the direct entry of Chinese automakers into the US market.
Meet ‘China’s Tesla’
The SU7 Ultra boasts impressive specifications, including a top speed that surpasses the Porsche Taycan Turbo and acceleration that outperforms the Tesla Model S Plaid. Xiaomi CEO Lei Jun emphasized the company’s ambition to build a “dream car” that pushes the boundaries of automotive performance.
To achieve this, the SU7 Ultra incorporates premium features like carbon-fiber components and performance ceramic brakes. The vehicle has also set a record lap time at the legendary Nurburgring track, further solidifying its position as a performance powerhouse.
Xiaomi’s entry into the luxury EV segment aligns with the growing trend of Chinese automakers challenging established brands. By offering a compelling blend of performance, technology, and affordability, Xiaomi aims to capture a significant share of the market. The company has already seen substantial success with its mainstream EV offerings, delivering over 10,000 vehicles per month since June.