Xiaomi's first electric vehicle, the SU7, will be priced under $70,000, according to Lei Jun, CEO of Xiaomi, in a recent statement. Jun added that the Xiaomi SU7 aims to be "the best looking, easiest to drive and smartest car" available in the market under the 500,000 yuan ($69,424) price tag.

Xiaomi, the Chinese technology giant, recently announced that it will start deliveries of its first electric vehicle (EV) known as Speed Ultra 7 (SU7) this month.