The first electric vehicle from the third-largest phone maker is nothing short of ambitious, as Xiaomi aims to become a top 3 EV maker as well.

Xiaomi's CEO Lei Jun took to the stage to announce the SU7 price and release date, and the pricing is aimed squarely at Tesla and the other EV juggernauts in China.

Xiaomi SU7 price and range

The SU7 starts from the equivalent of $29,900, or just below the Tesla Model 3. That is, of course, the price for the basic Xiaomi SU7 Standard trim, which carries a 73.6kWh BYD LFP battery, and comes with a single 220kW (295 hp) rear motor.

The SU7 Pro costs $34,000 and comes with CATL's cold weather Shenxing LFP battery. Its 94.3 kWh capacity is rated as good for 515 miles of range on the Chinese cycle, which on the more demanding EPA test should be more like 300–350 miles.

The top of the line Xiaomi SU7 Max trim carries CATL's flagship performance battery with 101 kWh capacity and a fast-charging 800V powertrain, but also costs the equivalent of $41,500. For that kind of money, SU7 Max buyers get a dual-motor drivetrain and 2.78 seconds acceleration.

Lei Jun disclosed that the SU7 electric cars will be sold close to what it costs to build them, or even below cost. This is very typical for Xiaomi and Chinese electronics makers in general when they want to make inroads into a new market. The company's Redmi line of budget phones is, after all, what catapulted it to the top 3 phone makers in terms of market share, just after Samsung and Apple.

SU7 specs and features

Lei Jun teased Tesla at the unveiling in the way that Xiaomi takes jabs at Apple when it announces its phones: "Many people ask me who the Xiaomi SU7 is built for. My answer is, isn't it time for Tesla Model 3 users to upgrade?"

The SU7 uses Xiaomi's own Hyper OS operating system in the smart EV, and provides Xiaomi Pilot driver-assist options aided by high-resolution cameras and even LiDAR and ultrasonic sensors, two components that Tesla has long deprecated to lower manufacturing costs.

It took Xiaomi only a few years to develop the SU7, but it dedicated an enormous team of engineers to the project of building its first electric car and branching out in a new market.

Apple tried to do the same for a decade, but recently disbanded its car team, and Lei Jun said he was surprised to hear it. Xiaomi, however, partnered with a state automotive conglomerate for the actual manufacturing, which saved it a lot of time in terms of regulatory hurdles.

Xiaomi SU7 release date

The standard Xiaomi SU7 and Max trims will start shipping to customers on April 3, while the midrange SU7 Pro model will be released in May.

Buyers already preordered 50,000 of them in the first 30 minutes of reservations, and Xiaomi teased that it will also be launching its first electric SUV by year's end, giving its fans another EV to look forward to. 

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