The Chinese EV loved by Ford's CEO just got a lot faster

businessinsider.com10-30

Ford CEO Jim Farley is a big fan of Xiaomi's SU7 EV — and it just got a major upgrade.The Chinese tech giant unveiled the SU7 Ultra, a high-performance electric car with a max speed of 350km per hour....

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It will be pricey, however, with Xiaomi selling the Ultra for 814,900 yuan ($114,000) in China, nearly four times the regular SU7's 215,900 yuan ($30,200) starting price.The SU7 Ultra, which Xiaomi says has a range of 630km and can charge from 10% to 80% in 11 minutes, will be released in China in March 2025.The EV racked up 3,680 orders within 10 minutes of going on presale on Tuesday, according to CEO Lei Jun.The Ultra marks Xiaomi's first foray into high-end luxury vehicles after the smartphone and electronics maker pivoted into electric cars with the SU7.The SU7 is packed with high-tech features. It is integrated with other Xiaomi products, and drivers can remotely voice-control household appliances from the vehicle.Since being released in March, it's proven a hit, delivering nearly 30,000 units in the second quarter of the year. The company said it expects to deliver 100,000 vehicles by November. Speaking on a podcast last week, Ford CEO Farley praised Xiaomi as an \"industry juggernaut\" and said he was a big fan of the SU7.\"I don't like talking about the competition so much, but I drive the Xiaomi,\" said Farley.\"We flew one from Shanghai to Chicago, and I've been driving it for six months now, and I don't want to give it up,\" he added.Western automakers like Ford are under pressure from Chinese electric car makers, which are expanding rapidly worldwide.With significant government support, BYD and Xiaomi have quickly become industry heavyweights. This is thanks to their ability to make and sell EVs for far less than their Western rivals.Some auto executives have been sounding the alarm, with Farley reportedly telling a Ford board member China's auto industry posed an \"existential threat\" after visiting the country in May.Tesla CEO Elon Musk, meanwhile, has previously warned that Chinese automakers will \"demolish\" their global rivals without governments imposing trade protections, although he has subsequently criticized tariffs targeting Chinese automakers.Xiaomi's rapid EV growth has come at a cost, with the company's electric vehicle branch posting an adjusted loss of $252 million in Q2.Citibank analysts previously estimated that they expected Xiaomi to turn a profit after hitting annual sales of 300,000 to 400,000 vehicles.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Product Release","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2479206454"}