Xiaomi SU7 price is not yet finalized, but it does seem a bit expensive, Lei Jun said.

(Image credit: Xiaomi EV)

Xiaomi EV, the car-making arm of Chinese smartphone giant Xiaomi, will hold a tech launch on December 28. Before that, the company's founder, chairman, and CEO Lei Jun provided more information about its first EV model.

The Xiaomi SU7 is in trial production and will hit the domestic market in a few months, Lei said on his personal social media accounts today.

The Xiaomi SU7 price is yet to be finalized, but it does seem a bit expensive, Lei said, adding that there's a reason for that and the model will exceed expectations in terms of experience.

Lei explained why Xiaomi's first EV model is named SU7, saying that SU stands for Speed Ultra and that the model will be a performance beast.

Xiaomi's first vehicle embodies the company's vision for automotive manufacturing: technology x ecosystem, advanced mobile smart space, according to Lei.

"So, Xiaomi SU7 is a high-performance tech ecosystem sedan. As for why we chose a sedan, I'll explain in detail on the 28th," he said.

Xiaomi SU7 is not designed to chase any particular competitor, Lei said, adding that inspired by extensive user research, the company designed the SU7 to fulfill the different desires of its customers.

"We've engineered the SU7 to offer a level of driving performance that stands among the best in its class, including the Porsche Taycan Turbo. We've prioritized intelligent technology, drawing inspiration from the advanced systems in cars like the Tesla Model S," Lei said.

Xiaomi SU7 offers advanced technology and a supportive ecosystem to enhance the driving experience, he said.

Xiaomi EV announced on December 25 that it would hold a technology launch event on December 28, starting at 2 pm Beijing Time. Lei later said the event would be technology-related only, not products.

Smart EVs bring together automobiles and consumer electronics, and the experience Xiaomi has gained in the consumer electronics space has helped enhance the capabilities of Xiaomi EV, Lei said today.

"At the launch event, I'll provide a comprehensive overview of these topics. I think you will have a different understanding of Xiaomi EV manufacturing," he said.

The launch will begin at 2 pm Beijing Time and last about three hours, Lei said.

Xiaomi's first EV model is a mid-to-large-sized sedan with length, width and height of 4,997 mm, 1,963 mm, 1,440/1,455 mm and a wheelbase of 3,000 mm, a previous filing showed.

The dimensions are larger than both Tesla's (NASDAQ: TSLA) Model 3 sedan and Nio's (NYSE: NIO) ET5.

The Xiaomi SU7's battery pack is available in two capacities -- 73.6 kWh and 101 kWh -- and can provide a CLTC range of up to 800 kilometers.

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