Xiaomi’s Modena: A Sporty Sedan with a Tech Twist to take on Tesla

Dew Briefs:

• Xiaomi has Modena and new EREV platforms, upcoming luxurious SUV for Chinese market.
• Xiaomi to showcase EV tech at Stride launch event on Dec 28, plans EV launch in 2024.

Diver Insights:

• The smartphone maker announced in 2021 and SU7 electric sedan launched in March 28, 2024, received 50k orders in 27 mins, priced lower than Tesla Model 3
• Event to showcase EV tech, not launch new vehicle, aims to redefine automotive segment.
• Xiaomi’s electric car, codenamed Modena, approved for mass production in 2024, with autonomous drivin
• Report questions Xiaomi’s decision to launch sedan instead of SUV, given crowded sedan segment and SUV popularity
• Tesla’s China sales driven by Model Y SUVs, facing competition from various brand like BYD Seal, BYD Han, Zeekr 001, Zeekr 007, Nio ET5, Xpeng P7, and now Xiaomi SU7

Xiaomi, the Chinese smartphone maker, is set to showcase its EV technology at the Stride launch event on December 28. The company announced plans to launch an electric vehicle in 2024, with an EV prototype already spotted testing in China.

Lie Jun, founder and CEO of Xiaomi, posted on x that Xiaomi partnered with top players in the industry to develop the chassis for Xiaomi SU7. They have created a fully self-developed Xiaomi Smart Chassis control algorithm that combines smart chassis technology with their Modena architecture. This collaboration aims to provide users who love to drive with a premium ride quality.

Xiaomi recently introduced its first electric car on March 28, 2024, the SU7 sedan, priced at 215,900 yuan (29,900 USD), undercutting the Tesla Model 3 by 30,000 yuan (4,100 USD) and boasting a longer range of 700 km under CLTC conditions.

According to dewDiver sources, Xiaomi has two platforms, Modena and a new platform supporting EREV. The upcoming Xiaomi SUV is anticipated to rival the Porsche Cayenne and Li Auto in the Chinese market. This indicates Xiaomi’s entry into the competitive SUV segment with a focus on electric vehicles.

The company’s strategic move aligns with the growing demand for electric SUVs in China, positioning Xiaomi as a key player in the evolving automotive industry. The development of these platforms underscores Xiaomi’s commitment to innovation and sustainability in the automotive sector.

While the event will not feature a vehicle launch, Xiaomi aims to showcase its EV technology, promising to redefine the automotive segment with a focus on automotive, consumer electronics, and smart ecosystems.

Xiaomi’s electric car project, codenamed Modena, has received approval from China’s NDRC, with plans to invest $10 billion (Rs 82,700 crore) in the automotive sector over the next decade. The Modena test mule hints at autonomous driving capabilities, with a sporty sedan design.

The decision to launch a sedan has raised questions due to the crowded sedan market in China, with SUVs gaining popularity. Tesla’s success with the Model Y SUV in China highlights the competitive landscape in the electric vehicle market.

Overall, Xiaomi’s foray into the electric vehicle market is a strategic move to diversify its product portfolio and capitalize on the growing demand for sustainable transportation options. With innovative platforms and cutting-edge technology, Xiaomi is poised to make a significant impact in the electric vehicle industry.