BEIJING ¨C Xiaomi unveiled a luxury version of its SU7 electric sports car on Tuesday, saying the $114,000 model would rank as the fastest four-door car in production, in a direct challenge to the likes of Tesla and Porsche.
Xiaomi, still better known for smartphones and home appliances than cars, entered China¡¯s crowded EV market in March with the launch of its hit SU7, a Porsche lookalike starting at less than $30,000.
Xiaomi CEO Lei Jun, who has a near-celebrity following in China, used the last section of a live-streamed product update that ran over three hours to show off the SU7 Ultra.
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