The Chinese EV loved by Ford’s CEO just got a lot faster

• Ford CEO Jim Farley is a big fan of Xiaomi’s SU7 EV — and it just got a major upgrade.
• The Chinese tech giant unveiled the SU7 Ultra, a high-performance electric car with a max speed of 350km per hour.
• The SU7 has already proven a hit in China.

Ford CEO Jim Farley’s favorite Chinese EV just got a major upgrade.

Chinese tech firm , BYD and Xiaomi have quickly become industry heavyweights. This is thanks to their ability to make and sell EVs for far less than their Western rivals.

Some auto executives have been sounding the alarm, with Farley reportedly telling a Ford board member China’s auto industry posed an “existential threat” after visiting the country in May.

Tesla CEO Elon Musk, meanwhile, has previously warned that Chinese automakers will “demolish” their global rivals without governments imposing trade protections, although he has subsequently criticized tariffs targeting Chinese automakers.

Xiaomi’s rapid EV growth has come at a cost, with the company’s electric vehicle branch posting an adjusted loss of $252 million in Q2.

Citibank analysts previously estimated that they expected Xiaomi to turn a profit after hitting annual sales of 300,000 to 400,000 vehicles.