Xiaomi releases first electric car

Chinese smartphone maker Xiaomi took the wraps off its first electric vehicle on Thursday and promptly announced it was aiming to become one of the world's top five automakers.

Source: Twitter

The sedan, dubbed the SU7 with the SU short for Speed Ultra, is a highly anticipated model that Chief Executive Lei Jun touted as having "super electric motor" technology.

Source: Twitter

But the car - likely to go on sale in several months - is making its debut at a time when China's auto market - the world's largest - is wrestling with a slowing demand.

Source: Twitter

The SU7 is also expected to appeal to customers due to its shared operating system with Xiaomi's popular phones and other electronic devices.

Source: Twitter