{"id":40996,"date":"2023-12-28T16:57:07","date_gmt":"2023-12-28T16:57:07","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/xiaomi-unveils-first-electric-car-plans-to-become-top-automaker-the-express-tribune\/"},"modified":"2023-12-28T16:57:07","modified_gmt":"2023-12-28T16:57:07","slug":"xiaomi-unveils-first-electric-car-plans-to-become-top-automaker-the-express-tribune","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/xiaomi-unveils-first-electric-car-plans-to-become-top-automaker-the-express-tribune\/","title":{"rendered":"Xiaomi unveils first electric car, plans to become top automaker | The Express Tribune"},"content":{"rendered":"<div id=\"\">\n<p>Chinese smartphone maker Xiaomi took the wraps off its first electric vehicle on Thursday and promptly announced it was aiming to become one of world&#8217;s top five automakers.<\/p>\n<p>The sedan, dubbed the SU7, is a highly anticipated model that is expected to make the most of its shared operating system with the company&#8217;s popular phones.<\/p>\n<p>But the car is making its debut at a time when the world&#8217;s largest auto market is wrestling with a capacity glut and slowing demand that have stoked a bruising price war.<\/p>\n<p>That didn&#8217;t stop Xiaomi Chief Executive Lei Jun outlining big ambitions that include building &#8220;a dream car comparable to Porsche and Tesla&#8221;.<\/p>\n<p>&#8220;By working hard over the next 15 to 20 years, we will become one of the world&#8217;s top 5 automakers, striving to lift China&#8217;s overall automobile industry,&#8221; Lei said at the event.<\/p>\n<p>Like several other tech firms, Xiaomi has been seeking to diversify beyond its core business to EVs &#8211; a plan it first flagged in 2021.<\/p>\n<p>It has pledged to invest $10 billion in autos over a decade and is one of the few new players in China&#8217;s EV market as authorities have been reluctant to add to the supply glut.<\/p>\n<p>At the launch event in Beijing, Lei said the autonomous driving capabilities of Xiaomi cars would be at the forefront of the industry.<\/p>\n<p>The Xiaomi-branded cars will be produced by a unit of state-owned automaker BAIC Group in a Beijing factory with an annual capacity of 200,000 vehicles.<\/p>\n<\/div>\n<p><script async defer crossorigin=\"anonymous\" src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&#038;version=v5.0&#038;appId=419051588770002&#038;autoLogAppEvents=1\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese smartphone maker Xiaomi took the wraps off its first electric vehicle on Thursday and promptly announced it was aiming to become one of world&#8217;s top five automakers. The sedan, dubbed the SU7, is a highly anticipated model that is expected to make the most of its shared operating system with the company&#8217;s popular phones. 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