Xiaomi unveils new car and phone to target Telsa and Apple
Xiaomi Corp has released a luxury electric sports car costing over 800,000 yuan (US$114,285) and flagship smartphone model the Xiaomi 15 as it targets Telsa and Apple. It also announced 25 percent more research spending in 2025.
The company plans to spend 30 billion yuan next year on research, covering artificial intelligence, operating system and chip sectors, compared with this year's 24 billion yuan, Lei Jun, Xiaomi's chief executive said.
Xiaomi announced more research spending in 2025 to hit 30 billion yuan.
During an four-hour conference, Xiaomi released a batch of products that included the Xiaomi 15 smartphone featuring more AI functions, home appliance devices, tablets and wearables, plus the Xiaomi SU7 Ultra, which Lei said was "the world's fastest four-door car in production." It will compete with Tesla's Model S Plaid.
The SU7 Ultra is due to be available next March, with a price of 814,900 yuan.
The Xiaomi 15, which claims to surpass iPhone 16 models in features, costs from 4,499 yuan and is on sale from Thursday. At the end of the third quarter, Xiaomi ranked No. 3 in the global smartphone market behind Samsung and Apple, researchers said.
Xiaomi unveils its new SU7 Ultra car in Beijing, said to be the world's fastest four-door car.
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