--- title: "Xiaomi starts sales of its own electric cars" description: "Learn about the Xiaomi starts sales of its own electric cars in this news" author: "HARIDHA P" published: 2024-03-12 updated: 2024-03-12 canonical: https://www.mindstick.com/news/3816/xiaomi-starts-sales-of-its-own-electric-cars category: "news" tags: ["news", "car"] reading_time: 2 minutes --- # Xiaomi starts sales of its own electric cars China's Xiaomi stated on Tuesday that the company is going to start shipment of its first **[electric vehicle](https://www.mindstick.com/news/2275/starting-price-for-the-mercedes-benz-eqe-electric-vehicle-is-76-050) (EV),** the SU7, this month, joining [one of the world](https://answers.mindstick.com/qa/34642/which-indian-it-company-has-been-recognized-as-one-of-the-world-s-best-employers-by-the-top-employer-institute-for-the-third-consecutive-year)'s largest car industries during a raging pricing war. ## Highlights: - Xiaomi introduces its first electric vehicle, the SU7, amidst China's [competitive](https://www.mindstick.com/blog/43436/benefits-of-referring-to-hc-verma-book-for-competitive-exams) car market. - The SU7 boasts advanced electric motor technology and shares an [operating system](https://www.mindstick.com/articles/229069/operating-system-development) with Xiaomi's devices. - Xiaomi aims to expand beyond smartphones, investing $10 billion in autos over the next decade. The smartphone manufacturer, *China's fifth-largest*, said in a Weibo tweet that it has 59 facilities in 29 locations around the nation that are willing to fulfill orders. A launch ceremony is set for March 28, when the new EV's sticker tag is likely to be revealed. [Xiaomi's](https://www.mindstick.com/news/3677/xiaomi-ev-su7-car-confirms-running-on-hyperos-and-face-officially-teasing) stock rose 7% during morning trading. China's EV sales increased by 18% in January-February, which is not far from the 21% [growth forecast](https://answers.mindstick.com/qa/49754/what-is-the-india-s-gdp-growth-forecast-for-fy-18-according-to-the-economic-survey-of-india-esi-2017) for the entire year 2023. This year has witnessed a wave of further price reduction driven by market leader BYD to entice consumers notwithstanding sluggish domestic demand. **Xiaomi Chief Executive** *Lei Jun* stated at the [introduction](https://www.mindstick.com/articles/13122/an-introduction-to-network-cables) of the Speed Ultra 7 (SU7) car in December that the company aspires to be one of the [world's top five automobile](https://yourviews.mindstick.com/view/84822/top-5-best-cars-to-buy-in-india-2023-guide) manufacturers. ![Xiaomi starts sales of its own electric cars](https://lh7-us.googleusercontent.com/Mw5ZcGjcLQxK0kuEaM_YzpQPdNt3dcVoQizWkuh-YuYed6O4kWXixsIJ4cvB1s1iT7fPOdyYN2shnec0iP1G0dEZnSMeA6Y3--SWUW-AI0B13g4x39zL6IHk3d_59NAl-EP4yMeIQKoc0h_7MV8FHcU) According to Lei, the SU7 boasts "**super electric motor**" technology that can accelerate quicker than Tesla and Porsche EVs. Analysts believe that the car's same operating system with Xiaomi's popular phones and other [electronic gadgets](https://answers.mindstick.com/qa/37408/what-are-some-cool-affordable-electronic-gadgets) will appeal to the company's current consumers. Xiaomi has been aiming to diversify beyond its core business into EVs in response to stagnating smartphone demand, a goal it first revealed in 2021. A unit of the state-owned manufacturer BAIC Group will produce its automobiles at a Beijing factory with a capacity of *200,000* vehicles per year. The smartphone powerhouse has pledged to invest $10 billion in autos over the course of the next ten years, and it was one of the only competitors in China's [EV market](https://www.mindstick.com/news/3769/tata-motors-first-reduction-in-the-price-of-ev-cars-see-the-details) to obtain approval from authorities who are wary of contributing to a supply glut. --- Original Source: https://www.mindstick.com/news/3816/xiaomi-starts-sales-of-its-own-electric-cars Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.