Xiaomi makes dirt-cheap gadgets, but its CEO has ruled out cheap EVs

Xiaomi CEO Lei Jun said the company will not sell EVs priced below 100,000 yuan.

He argued that smart features and hardware costs make ultra-low pricing impractical.

Lei said the updated SU7 received major upgrades, while Xiaomi kept the price increase relatively modest despite higher costs.

The remarks suggest Xiaomi will compete on features and quality rather than joining China’s low-end EV price war.