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Xiaomi CEO Lie Jun took direct aim at Musk on Thursday at the electric car's launch, saying the company's goal is "to make a dream car that is as good as Porsche and Tesla," Bloomberg reported.
The SU7 is engineered to compete with the likes of Porsche and Tesla via its "super electric motor," Lei said, which he said can rack up speeds faster than either luxury EV brand.
Pricing is not yet known for the new EV, which is in pre-production and set to hit the Chinese market in a few months.
Here's what we know so far about the SU7:
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SU7 boasts 800 kilometers (500 miles) of range, Xiaomi said.
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The SU7 is set to edge out the competition with peak performance at 664 horsepower.
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The SU7's battery is engineered to reach a full charge in 15 minutes.
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The Xiaomi SU7 will be produced in a Beijing factory with an annual capacity of 200,000 vehicles.
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The SU7 will be available in three colors.
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Xiaomi said the SU7 can go 0-100 kph in 2.78 seconds.
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The smartphone company has engineered the SU7 to operate seamlessly with Xiaomi devices.
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SU7 will be equipped with industry-leading autonomous driving capabilities, Lei said.