Xiaomi (1810) is reportedly deepening cooperation with e-commerce giant JD.com (9618) for the sale of its first electric vehicle starting Thursday as the Chinese electronics maker plans to price its EVs below 500,000 yuan (HK$549,208).
The cooperation includes one-stop services from delivery to installation of charging piles and supporting tire sales, mainland media reported.
This came as Xiaomi's chief executive Lei Jun yesterday said his goal for the firm's first electric vehicle was that it would be the "best looking, easiest to drive and smartest car" priced under 500,000 yuan.
The company will on Thursday evening announce its official price range and start taking orders for the SU7, short for Speed Ultra 7.
Lei's comments mark the first time the company has confirmed the upper end of its price range.
Earlier, mainland media Jiemian reported that Xiaomi is looking to price its first EV model at 266,000 yuan for the standard version, down by between 30,000 to 50,000 yuan compared to planned prices last year.
The Xiaomi SU7 may also see its high-end version priced at 336,000 yuan although further adjustments may be made before the launch, the report said.
Some 76 Xiaomi stores in 29 Chinese cities began displaying the car yesterday, with prospective customers and car bloggers lining up in one central Beijing showroom to get a close view of the "ocean blue" and other versions. The company also uploaded its "Xiaomi Car" app to Chinese app stores.
And Xiaomi put on sale the work uniforms that Lei once wore at 299 yuan each.
Meanwhile, BYD's (1211) honor edition of its Seal model hit the market yesterday, with an official price range of 179,800 yuan to 249,800 yuan.
The starting price is 10,000 yuan lower than the existing Seal's champion edition, which stood at 189,800 yuan.
Shares of BYD declined 1.4 percent in Hong Kong yesterday.
In other news, EV maker Zhejiang Leapmotor Technology (9863) said its net loss last year narrowed to 4.2 billion yuan. That compares with a loss of 5.1 billion yuan in 2022.
