Business
Xiaomi
Xiaomi’s SU7 electric sedan, launched in March, may be the first car made by a phone company. The Chinese electronics giant—which makes computers, wearable devices, robot vacuums, scooters, and phones (it was No. 3 in the world in 2023, after Apple and Samsung)—doesn’t see anything strange about that. Instead, it views the SU7 as an extension of customers’ electronic ecosystems. The SU7 connects to home devices, letting drivers control household lighting and appliances from the car. CEO Lei Jun says the car has longer range on a charge than Tesla’s Model 3 and faster acceleration than the Porsche Taycan. “Three years ago, we made a precise analysis…,” Lei said in comments posted on his WeChat account. “We believed that smart electric cars were the fusion of cars and consumer electronics.” Focused on the Chinese market for now, Xiaomi priced the base model around $30,000 to undercut the Model 3, and in less than one month had orders for more than 70,000 cars.
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