Xiaomi to deliver first EV this month

Chinese electronics manufacturer Xiaomi will begin deliveries of its first BEV later this month, the company's CEO has announced.

Xiaomi is one of China's largest smart phone manufacturers. The firm announced its first foray into EVs last year with the unveiling of its SU7, a "full-size high-performance eco-technology sedan".

"Starting from the official announcement of car production on 30 March, 2021, I have firmly kept in mind the three-year promise of 'launch in the first half of 2024'," Xiaomi CEO Lei Jun wrote on Chinese social media site Weibo. "On 28 March, it is time for Xiaomi Motors to officially keep its appointment."

Xiaomi has invested over RMB10bn ($1.4bn) in the vehicle's initial research and development phase.

The company also notes that it has 59 stores in 29 cities around China, indicating that it will use a dealership sales model.

Tough competition

The company says the SU7 will rank amongst the highest-performance EVs in the global market, challenging the likes of market leader Tesla and premium German brand Porsche's EVs in terms of acceleration.

Xiaomi says it has made a number of innovations in the SUV's electric drivetrain, battery, autonomous driving capabilities and die-casting – a bodywork production method which can cut manufacturing costs – that will make the vehicle competitive.

"Numerous Xiaomi EV's self-developed technologies have become first-of-kind globally or domestically," the firm says.

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The announcement comes as the European Commission mulls tariff hikes on Chinese EV imports, as well as retrospective tariffs on previously sold units.

The US is also considering additional protectionist measures against competitive Chinese EVs.