Xiaomi, China’s fifth-largest smartphone maker, has announced it will begin deliveries of its first EV model - SU7 - this month.

A launch event is expected to take place 28 March, with pricing details to be revealed.

The announcement was made on Chinese social media platform Weibo, where Xiaomi Chief Executive Lei Jun posted:

“Starting from the official announcement of car production on March 30, 2021, I have firmly kept in mind the three-year promise of ‘launch in the first half of 2024.’”

“Recently, many friends have asked, the current industry competition is very fierce, is Xiaomi Motors confident in opening up the market? Of course we are confident, because we are Xiaomi Motors and we are fully prepared.”

Mr Jun added that he believed the Xiaomi SU7 had the “most advanced smart technology” and “excellent driving quality.”

The smartphone maker has reportedly pledged to invest $10 billion in autos over a decade.

Vehicles will be produced by a unit of state-owned automaker BAIC Group. Its Beijing factory has an annual capacity of 200,000 vehicles.