What's happened
Xiaomi's SU7 electric sedan has gained significant traction in the automotive market, with Ford CEO Jim Farley praising its quality. The SU7 Ultra, a high-performance variant, has also been launched, showcasing Xiaomi's rapid expansion in the EV sector amid growing competition from Chinese automakers.
Why it matters
What the papers say
According to Business Insider UK, Ford CEO Jim Farley has been vocal about his admiration for Xiaomi's SU7, stating, 'It's fantastic. They sell 10,000, 20,000 a month.' This sentiment is echoed by the South China Morning Post, which highlights Xiaomi's rapid sales growth, delivering 75,688 SU7 sedans since launch. However, the NY Post raises concerns about Farley's choice to drive a Chinese EV, suggesting it undermines American manufacturing efforts. This contrast illustrates the growing tension between domestic and international automotive markets.
How we got here
Xiaomi entered the electric vehicle market in March 2021, launching the SU7 in December 2023. The company has since seen impressive sales, delivering nearly 30,000 units in Q2 2024 alone. The SU7 Ultra was recently unveiled, further solidifying Xiaomi's position in the EV landscape.
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Xiaomi Corporation is a Chinese electronics company founded in April 2010 and headquartered in Beijing. Xiaomi makes and invests in smartphones, mobile apps, laptops, bags, earphones, shoes, fitness bands, and many other products.
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