Xiaomi, a prominent player in the smartphone industry, is now making its grand entry into the electric vehicle (EV) market with the introduction of its first EV, the Xiaomi SU7, in China. The sedan is slated to begin mass production in Dec. 2023.
What Happened: Xiaomi Corp. (OTC: XIACF) is in the process of obtaining a sales license for the SU7 in China, according to a regulatory filing spotted by CarsNewsChina.
The EV, initially codenamed MS11, will be produced by Beijing Automotive Industry Holding Co. Ltd (BAIC), a unit of BAIC Motor Corp. (OTC: BCCMY).
The SU7's specifications were disclosed as part of the licensing procedure, necessitating approval from the local authority, the Ministry of Industry and Information Technology (MIIT).
The SU7 will be available with two powertrain options: a 220 kW motor in the rear-wheel-drive variant and a 495 kW maximum power motor in the all-wheel-drive variant. It is rated to have a top speed of 165MPH.
Battery packs will come from BYD Co. Ltd. BYDDF for the lower-priced model and CATL for the pricier option. The EV will also have facial recognition unlocking, and certain models will have an active rear wing.
The SU7's in-car system will operate on Xiaomi's HyperOS, a proprietary operating system compatible with both smartphones and cars.
The SU7 series will include SU7, SU7 Pro, and SU7 Max. Mass production is scheduled to begin in December 2023, with customer deliveries starting in February 2024. BAIC's Beijing factory has already started trial production.
Why It Matters: Xiaomi's move into the EV market represents a significant expansion of its product range.
The company is known for its Android smartphones and a wide variety of products, including smartphone accessories and smart home products. The Xiaomi SU7 car series marks its aggressive push into China's electric car market.