Science and Technology Desk: Chinese smartphone brand Xiaomi has officially entered the electric car market. The company has announced the launch of its first model Speed ​​Ultra 7 (SU7).

Xiaomi founder and CEO Lei Jun unveiled the concept of its first electric car earlier last week. He said Xiaomi's electric car will be attractive, easy to drive.

Lei Jun said that Xiaomi's SU7 model has a range of about 700 kilometers. Which is more powerful than Tesla's long-range Model 3. Xiaomi has primarily targeted premium buyers when selling the electric car. But a standard SU7 car is cheaper than an imported Porsche Taycan. Because the price of the premium model Porsche car is $124,248.

According to Xiaomi, the company's SU7 model will be priced between $29,874 and $41,497.

Lei Jun said on Weibo last Wednesday that Xiaomi wants to build a 'dream car' to compete with Porsche and Tesla. If we want to make good cars, we must seriously learn from these two best car manufacturing companies in the world.

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According to data from Counterpoint Research, Xiaomi has gained a reputation as a company that manufactures smartphones and other electronics products. The company accounted for 13 percent of global smartphone sales in the last quarter of 2023.