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Tesla faces new rival as a tech giant launches its first EV
• Xiaomi is set to launch its first electric vehicle (EV), the SU7, in China on March 28.
• The SU7 boasts a fast acceleration and a range of up to 497 miles (800 kilometers).
• Xiaomi plans to invest $10 billion in its vehicles business over the next 10 years and aims to become one of the world's top five automakers in the next 15 to 20 years.
• The price of the SU7 is yet to be announced, but local news reports suggest it may be priced between 250,000 yuan ($34,800) and 370,000 yuan ($51,500).
CC: Techminis
PC: Xiaomi