Chinese tech giant Xiaomi unveiled its eagerly anticipated debut battery-powered vehicle, the Speed Ultra 7 , in Hong Kong on Thursday. The sleek sedan may be the company’s first car, but it also represents one of the bigger threats yet to Tesla’s hold on the global EV market.This New 131-Foot All-Aluminum Superyacht Lets You Take a Dip at Tip and TailBecause it’s Xiaomi’s first try, it should come as little surprise that the SU7’s design leaves something to be desired.
Those numbers are solid, and impressive in the case of the Max, but the range figures the company is touting could be the vehicle’s real calling card. Xiaomi says the standard will run 435 miles, the Pro 516 miles, and the Max 497 miles. Those estimates are based on China’s CLTC testing cycle but those are extremely strong numbers. Additionally, the standard can be charged from 10- to 80-percent battery capacity in 25 minutes, the Pro in 30 minutes, and the Max just 19 minutes.
The SU7 has the shape of a real Model 3 competitor in China, but the most noteworthy info to come out of the unveiling, and the thing that might unnerve Tesla CEO Elon Musk, is Xiaomi’x planned pricing for the EV. Lu announced that EV will start at 215,900 yuan , which is roughly $4,000 less than the Model 3, and top out at 299,900 yuan . That immediately makes the EV one of the most attractive options on the market.
Will it come to the U.S.? Unlikely any time soon, but Xiaomi plans to focus on the Chinese market for the first two to three years, before moving on to other markets,. It’s unclear if this includes the U.S., but if it does, Elon Musk will surely be paying more attention.Bryan Hood is a digital staff writer at Robb Report.