Finance

Xiaomi is set to launch its electric car on March 28

Chinese consumer electronics company Xiaomi revealed Thurs., Dec. 28, 2023, its long-awaited electric car, but declined to share its price or specific release date.
CNBC | Evelyn Cheng

BEIJING — Chinese smartphone company Xiaomi announced Tuesday it would formally launch its long-awaited electric car on March 28.

The company claimed in a social media post its SU7 electric car “would be delivered as soon as it is launched,” according to CNBC’s translation of the post written in Chinese.

The post said the company was opening the waitlist for 59 stores in 29 cities in China.

Xiaomi revealed the vehicle’s exterior and tech features in late December, but did not share a price or specific delivery date.

Last month, Xiaomi President Weibing Lu told CNBC the company was targeting the premium segment with the car, and indicated deliveries could begin as soon as the second quarter.

While the company revealed the car to an international audience for the first time at Mobile World Congress Barcelona, Lu said it would likely take at least another two or three years before Xiaomi starts selling the vehicle overseas.

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