Not only has BYD, the world’s largest electric vehicle company in China, launched a supercar to enter the premium car market, but Xiaomi has also introduced a supercar.
Xiaomi, a global mobile phone manufacturer, is also entering the electric vehicle industry.
Xiaomi unveiled its electric supercar, SU7, at the end of last December. However, they did not disclose any specific price or release date.
In regards to the situation, Xiaomi CEO Lei Jun announced on the 25th (local time) that domestic delivery could start within the second quarter at the earliest. However, he added that “the exact price range is still undecided.”
This Beijing-based company is a leading player in China’s smartphone industry, ranking third in global shipments.
According to IT data company Canalys, Xiaomi holds a 13% share of the global smartphone market, trailing behind Apple and Samsung to take third place.
Xiaomi has entered the electric vehicle market for business diversification. A strength of Xiaomi is that the company has built an operating system that connects the smartphones and home appliances it already sells with its cars.
BYD also announced the launching of its electric supercar priced at 1.68 million yuan (about $232,000) the same day.
The newly launched electric supercar, Yangwang U9, can reach a speed of 62 miles per hour in 2.36 seconds, with a top speed of 192 miles per hour.
Bloomberg assessed that BYD, which has overtaken Tesla in sales and emerged as the world’s largest electric vehicle company, is seriously entering the supercar segment, challenging global supercar companies, such as Ferrari and Lamborghini.
Chinese electric vehicle companies are successively releasing supercars and challenging the premium car market.
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