Hyperdrive
Xiaomi Unveils Its First EV, With Ambition to Be China’s Porsche or Tesla
- Tech company’s first electric car is joining a crowded market
- SU7 made in partnership with state-owned Beijing Automotive
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The billionaire co-founder of Xiaomi Corp. unveiled the company’s first electric vehicle Thursday, declaring ambitions to become a top global carmaker in 15 to 20 years and compete against Tesla Inc. and Porsche AG.
The SU7, which stands for Speed Ultra, rolled onto a stage at the China National Convention Center in Beijing with no drivers visible, ending a presentation by CEO and co-founder Lei Jun in front of thousands of people.