Xiaomi Unveils Its First Electric Car

Chinese smartphone maker Xiaomi unveiled its first electric vehicle on 28th December, SU7 sedan. Xiaomi Chief Executive Lei Jun outlined the company's big ambitions, which include building "a dream car comparable to Porsche and Tesla". At the event, he said they will aim to become one of the world's top 5 automakers, striving to lift China's overall automobile industry. 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.