The price of Xiaomi's first pure electric sedan SU7 could be a bit expensive, reported ThePaper.cn on Tuesday, quoting Lu Weibing, president of the Chinese tech company.

Lu said that he believed the price would be recognized by the market and it would definitely be worth its value.

Lu added the short-term goal for SU7 is to enter the top three in sales of pure electric luxury vehicles. However, he also stated that, compared to sales volume, Xiaomi is more concerned about user experience and word of mouth.

Xiaomi Group's yearly revenue totaled 271 billion yuan ($37.64 billion) in 2023, and the adjusted net profit was 19.3 billion yuan, up 126.3 percent year-on-year, according to the annual performance report released on Tuesday.