Chinese smartphone giant Xiaomi officially unveiled its first electric car yesterday at a launch event in Beijing, while declaring its big ambitions to rival Tesla and Porsche and become a top automaker within the next two decades.
The SU7, which we’ve previously covered, signals the transition of the Chinese electronics giant to brave new ventures, and its billionaire cofounder Lei Jun is setting his sights high. He vows to become a global automobile leader within 15 to 20 years and to build a “dream car” that can contend with Tesla and Porsche, according to Reuters. He added that the company plans to invest $10 billion to shake up the industry as it did for smartphones 10 years ago.
Speaking to a packed house in Beijing yesterday, Lei didn’t offer up an exact launch date or price but shared details on…