Chinese tech giant wants to beat Porsche, Tesla at their own game
An prized performance record may be on the line.
From a distance, Chinese tech giant Xiaomi's (XIACY) SU7 electric car resembles a miniaturized Porsche Taycan, but the comparisons stop there.
Since its launch in December 2023, the SU7 has enjoyed massive sales success. It offers an unrivaled level of equipment at a price that undercuts Tesla's Model 3 and offers performance that matches the Porsche in its top-tier trims.
However,. as if resembling a Porsche wasn't enough, recent reports suggest that Xiaomi is also taking a page out of Tesla's (TSLA) book, going for a performance benchmark record close to their hearts.
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Recently, what is suspected to be the Xiaomi SU7 performance model was tested on the Nürburgring circuit. .#xiaomi#xiaomicar#chinacar pic.twitter.com/YLzoyLPJoA— opencar (@OpenCarMyles) June 12, 2024
As per a report in Autoevolution, a specially modified Xiaomi SU7 was seen testing its paces on the Nürburgring Nordschleife, the notorious 12.9 mile former Formula 1 race track.
According to the publication, the Xiaomi sported a number of different alterations apart from its edgy graphics, including tweaks to the body and a fixed rear spoiler for better aerodynamics.
Currently, Porsche's Taycan is the leader in four-door EVs at the track, lapping the 'ring in 7:07.55 in January 2024. The car that made that lap was a special Taycan called the Turbo GT: a faster, lighter and a more powerful version of the already powerful Taycan Turbo. Porsche
Under the Turbo GT's skin is an upgraded dual-motor powertrain that allows for 1,092 horsepower and 988 lb-ft of torque. Zero to sixty miles per hour is dealt with in 2.2 seconds - or 2.1 seconds with the optional Weissach package, and will go up to a top speed of 190 miles per hour.
On the other hand, the fastest SU7 is the SU7 Max, which boasts 673 horsepower and 618 lb-ft of torque from a dual motor setup, allowing for a 0-60 time of 2.8 seconds and a top speed of 165 miles per hour. 
Though it seems like the Xiaomi may be lacking in the performance department, the Chinese tech giant's presence on the Nürburgring indicates that it wants in on an already-intense battle of the EV brands.
In 2019, Porsche sparked its competition with Tesla by claiming the record of the fastest EV production sedan with a 7:42 time in a pre-production model of the Taycan.
In response, Tesla beat the Porsche's record in September 2021 with the 1,020 horsepower Model S Plaid, going around the 12.9 mile track in 7:35. Porsche punched back with the Taycan Turbo S, which went around in 7:33, until Tesla fought back in June 2023 with the 7:25 record in a "Track Package" Model S Plaid.
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Though many details of the modified Xiaomi SU7 spotted at the 'Ring are unknown, the car's mere existence is another example of unbridled potential that Chinese automakers have when it comes to disturbing household names of performance.
In February 2024, BYD (BYDDY) launched the Yangwang U9, a $233,400 supercar with more than 1,287 horsepower and 1,200 lb-ft of torque - more than its Ferrari and Lamborghini rivals.
Xiaomi, trading on OTC markets as XIACY, is down 0.46% today, trading at $10.90 at the time of writing.
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