Chinese tech giants Xiaomi and Huawei have unveiled their respective electric vehicle (EV) offerings, marking a pivotal moment in their expansion beyond smartphones and consumer electronics.

Xiaomi Jump-starts EV Venture with The SU7 Sedan

Xiaomi released the SU7 sedan, its first electric vehicle, as the smartphone and smart device maker seeks to dominate the global automobile industry.

During the launching ceremony, Xiaomi CEO Lei Jun said that the tech firm wants to be one of the world's top five automakers in 15 to 20 years. As quoted in a CNN report, Lei said, "It's a new starting point for Xiaomi, and I'm convinced that one day in the future, there will be Xiaomis running on every road in this world."

Lei said Xiaomi is committed to making a dream automobile like Porsche and Tesla, despite the hurdles of entering the automotive sector. Xiaomi showed its faith in the SU7 sedan by comparing performance figures to Tesla's Model S and Porsche's Taycan Turbo.

Shanghai-based automotive industry pundit Mark Rainford called Xiaomi's EV launch "a winner," forecasting strong sales in China. Lei teased a high sedan pricing, pitching it as a premium product, emphasizing Xiaomi's deliberate entry into luxury EVs with the SU7.

Read Also: Elon Musk's X Eyes Mid-2024 Launch for In-App Payment Services

Moreover, Xiaomi introduced customized color variants for its Xiaomi 14 flagship smartphones and Xiaomi Watch S3, aligning their aesthetics with the SU7 sedan, according to GizmoChina. This synchronicity further emphasizes the synergy between Xiaomi's diverse product offerings and its ambitious electric vehicle venture.

Xiaomi's Hong Kong-traded shares rose 40% this year, indicating financial strength, CNBC reported. The Chinese tech company's Singles Day sales broke $3 billion, solidifying its status as a tech and automotive powerhouse. Xiaomi has allocated $10 billion for smart EV investment over the next decade, reflecting its commitment to shaping the future of electric mobility.

Huawei Launches Aito M9 SUV

Parallel to Xiaomi's move, Huawei, another Chinese tech heavyweight, introduced the Aito M9 SUV. Priced at 469,800 yuan (approximately $66,500), the Aito M9 is positioned as a premium offering, boasting the "largest space performance in its class."

The SUV features innovative elements, including a projection screen designed for a cinema-like experience without causing motion sickness, seats with massage functions, and double armrests for enhanced passenger comfort.

Huawei's entry into the EV sector is not limited to the Aito M9, as the company previously launched an electric sedan designed to compete with Tesla. This expansion into the automotive market aligns with Huawei's strategy to diversify its business portfolio and seize a share of the rapidly evolving electric mobility landscape.

The simultaneous unveiling of Xiaomi's SU7 and Huawei's Aito M9 adds vibrancy to China's auto market, the largest in the world. The influx of new electric vehicles intensifies competition, leading to recent price wars driven by high inventories and fierce rivalry among industry players.

Related Article: Alibaba's Legal Woes Continue: Judge Rules Against Dismissal in Counterfeit Squishmallows Case