Xiaomi releases electric car $4K cheaper than Tesla's Model 3 as price wars heat up
Chinese smartphone company Xiaomi said Thursday it will sell its first car for far less than Tesla’s Model 3, as price wars heat up in China’s fiercely competitive electric car market.
Xiaomi CEO Lei Jun said the standard version of the SU7 will sell for 215,900 yuan ($30,408) in the country — a price he acknowledged would mean the company was selling each car at a loss.
Tesla’s Model 3 starts at 245,900 yuan in China.
Xiaomi CEO Lei Jun said the standard version of the SU7 will sell for 215,900 yuan ($30,408) in the country — a price he acknowledged would mean the company was selling each car at a loss.
Tesla’s Model 3 starts at 245,900 yuan in China.
Earlier this week, the Xiaomi CEO said on social media the SU7 would be the best sedan “under 500,000 yuan” ($69,328).
The car is entering a fiercely competitive market in China, where companies are launching a slew of new models and cutting prices in order to survive. Chinese telecommunications giant Huawei has partnered with traditional automakers, most notably launching the Aito brand whose vehicles are often on display in Huawei smartphone showrooms.
Tesla’s Model 3 is the best-selling new energy sedan in China that has a driving range of at least 600 kilometers (372 miles) and costs less than 500,000 yuan, according to data from industry website Autohome.
BYD’s Han sedan starts at 169,800 yuan, according to Autohome.
Nio’s ET5 starts at 298,000 yuan, while Xpeng’s P7 starts at 209,900 yuan, the data showed. Geely-owned Zeekr’s 007 sedan starts at 209,900 yuan, according to Autohome.
Sales of new energy vehicles, which include battery-only powered cars, have surged in China to account for about one-third of new passenger cars sold, according to the China Passenger Car Association.
The car is entering a fiercely competitive market in China, where companies are launching a slew of new models and cutting prices in order to survive. Chinese telecommunications giant Huawei has partnered with traditional automakers, most notably launching the Aito brand whose vehicles are often on display in Huawei smartphone showrooms.
Tesla’s Model 3 is the best-selling new energy sedan in China that has a driving range of at least 600 kilometers (372 miles) and costs less than 500,000 yuan, according to data from industry website Autohome.
BYD’s Han sedan starts at 169,800 yuan, according to Autohome.
Nio’s ET5 starts at 298,000 yuan, while Xpeng’s P7 starts at 209,900 yuan, the data showed. Geely-owned Zeekr’s 007 sedan starts at 209,900 yuan, according to Autohome.
Sales of new energy vehicles, which include battery-only powered cars, have surged in China to account for about one-third of new passenger cars sold, according to the China Passenger Car Association.
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AnaiAnai : Xiaomi well known can sell any products at cheaper price. So there isnt any surprise at all.
czsylda : $40,000, this title is amazing
Silverbat : Inferior in acc. and HP than M3 real drive
72734102 : Fof a couple hundred dollars! Are you kidding? Tesla’s advanced engineering that ALL companies imitate of buy their EV builder who is single handedly showing the World how to build Super Quality EV’s! Tesla is and will be continuing its massive lead over All the wanna be’s trying to imitate what Elon has accomplished.
72734102 : We All know Cheaper is a BIG Warning sign that the Quality IS Also Dropped significantly! That’s why 98% of all Americans Prefer to Buy American Quality Made products. So We will buy the Tesla over cheaper copycats!
Hu Leo : It's 40,000 dollars cheaper, and you only sell it when you have run out of your mind, how much is 40,000 cheaper?
All Also Taken : BYD is selling the Dolphin here for about 20,000 USD :) beat that if you can Xiaomi :)
AssetEagle : Soon Xiaomi will sell to progressive India too. Lets see how Elon cope.
Mr Dumb Money 72734102: Lol yeah that Boeing is quality piece of shit
Mr Dumb Money 72734102: Tesla is literally living off its brand name and nothing
more. Chinese EVs are more advanced, longer range, and has more HP.
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