Xiaomi has been exploring the Indian market for electric cars, following the footsteps of BYD and MG Motor. The company has brought its newly unveiled electric car, the SU7, to India. It will be displayed in Bengaluru for partners, employees, and the public.
The SU7 model is a significant project for Xiaomi CEO Lei Jun. Priced under $30,000 (around Rs 25 lakh) for the base model, it is approximately $4,000 (Rs 3.3 lakh) cheaper than Tesla’s Model 3 base model in China. The car comes in two versions: one with a driving range of up to 668 km per charge and another with a range of up to 800 km.
While some believe this could be Xiaomi’s way of testing the Indian car market, others think it may be premature for such a move. Deliveries of the vehicle began in China in March. A company spokesperson stated that there are “no plans” to launch the car immediately in India but mentioned that they continue to “evaluate market opportunities.”
While we continuously monitor market opportunities, our focus remains on our core product lines for India,” said a company spokesperson. Despite this cautious approach, the company is enthusiastic about the car’s success in China.
The display car was imported to India a few weeks ago. Company executives are eager to showcase it in Bengaluru as Xiaomi celebrates ten years of business in India. “The idea is to showcase the strength of Xiaomi as a brand and show its diversified product portfolio beyond smartphones,” said a source.
In addition to displaying the SU7, Xiaomi plans to exhibit various household appliances and announce its entry into new categories during this event. This move aims to highlight Xiaomi’s diverse range of products. Xiaomi has invested $10 billion globally into its automotive venture. The excitement around the SU7 stems from its strong start in China.
The vehicle’s competitive pricing and impressive driving range make it an attractive option in the electric vehicle market. The company’s cautious yet optimistic approach indicates that while immediate plans for an Indian launch are not on the table, they are keeping an eye on potential opportunities.
This strategy allows them to gauge market reactions and make informed decisions about future expansions. Xiaomi’s entry into the automotive sector marks a significant diversification from its core business of electronics and smartphones. By showcasing their electric car alongside other products, they aim to strengthen their brand presence and demonstrate their capability in various consumer markets.
An event in Bengaluru will serve as a platform for Xiaomi to highlight its innovations and broaden its appeal among Indian consumers. The company’s efforts reflect a strategic move to position itself as a versatile player in multiple industries.