Xiaomi unveiled its first electric car SU7 and reiterated its desire to become the world’s leading car manufacturer in 15-20 years and compete with Tesla and Porsche. This was reported by Bloomberg.

The SU7 sedan will be available in two models, a regular and a two-engine Max. The Max will have a range of 800 km on a single charge, a top speed of 265 km/h, and acceleration to 100 km in 2.78 seconds.

At that time, the regular model will have a top speed of 210 km/h and will be able to travel 668 km on a single charge.

Inside the car will be batteries from Contemporary Amperex Technology Co. Limited and BYD, depending on the configuration – for one or two engines.

So far, the company has not named the exact price of the new electric car, but Lei Jun, co-founder and CEO, hinted that the price could range from 99 to 400 thousand yuan ($14,000 to $56,000), and the car will go on sale next year.

“Xiaomi’s goal is to make a dream car that is as good as Porsche and Tesla,” said Lei Jun.

Due to Beijing’s restrictions on the production of cars for new entrants to the market, the company collaborated with the state-owned Beijing Automotive Group to produce the SU7.

Earlier, Lei Jun also said that the company wants the SU7 to be able to compete with the Porsche Taycan Turbo in terms of performance and the Tesla Model S in terms of technological features.