Xiaomi SU7 electric car sets delivery date

If as planned, this event will mark Xiaomi completing its electric vehicle production project and joining the race in this field with other "giants" in the world.

Following the announcement, the company's shares rose nearly 10% in mid-morning trading on March 12 on the Hong Kong Stock Exchange (China).

On China's Weibo social network, Mr. Lei Jun - CEO and founder of Xiaomi - announced: "Xiaomi SU7 electric vehicle will be officially launched on March 28".

The announcement was accompanied by a photo of the new car, which was first shown to the press in December 2023.

At that time, Mr. Lei Jun also announced to the press that Xiaomi aims to become one of the top 5 electric car manufacturers in the world within the next 15 to 20 years.

Xiaomi partnered with China's BAIC Automobile Group to develop the Xiaomi SU7 brand, with Xiaomi designing all of the vehicle's software and electronic features.

Meanwhile, China's largest electric car manufacturer BYD and battery maker CATL are the two units supplying battery packs for the SU7. With this battery pack, the car's maximum operating range is up to 800km.

Founded in 2010, Xiaomi has achieved rapid growth through a marketing strategy of premium products at affordable prices.

Initially, Xiaomi directly implemented this strategy through online channels. Thanks to this development, Xiaomi rose to become the third largest smartphone manufacturer in the world.

In addition, Xiaomi also develops and produces other electronic products including tablets, smart watches, headphones and electric scooters.

In 2021, the Beijing-based company announced plans to expand into electric vehicles, as the country's leading electric vehicle brands are engaged in a "war" for market share and price. Not only Xiaomi, many other "giants" in the Chinese technology sector have joined this race, with large-scale investments.