Xiaomi prices first car series SU7 at nearly $30,000

Chinese tech giant Xiaomi, the world's third-largest smartphone maker, unveiled its highly anticipated first electric vehicle, the SU7 series, on Thursday. With a starting price of 215,900 yuan (nearly $30,000), Xiaomi positions the SU7 as a strong competitor in the electric car market.

In a keynote speech, Xiaomi CEO Lei Jun confidently claimed the base model of the SU7 outperforms Tesla's Model 3 in 90 percent of the performance parameters. He further set the top-of-the-line SU7 Max as a rival to the Porsche Taycan Turbo.

Battery life and smart technology were central themes in Lei's presentation. He promised a minimum range of 700 kilometers for the SU7 and touted it as "the best driving experience under 500,000 yuan." All SU7 models, the Basic, Pro and Max, boast fast-charging capabilities, offering 138 km of range in just five minutes and 350 km in 15 minutes.

The SU7 seamlessly integrates with Xiaomi's existing ecosystem of smart home appliances. Xiaomi phone owners with a linked Xiaomi account can effortlessly connect their phones to the car. Lei assured Apple users of compatibility with iPhones as well.

In a display of cross-product synergy, Lei unveiled five new color options for the Xiaomi 14 smartphone, matching the color palette of the SU7 series.

Lei also showcased the SU7's automatic emergency braking (AEB) system with a video demonstrating the car's ability to autonomously stop at a speed of 135 kilometers per hour to avoid a collision.

The SU7 is now available for pre-order on the Chinese mainland, with deliveries commencing in April. Prices range from 215,900 yuan for the base model to 299,900 yuan for the SU7 Max (over $40,000).