(AsianFin)— The Xiaomi SU7 features a superior configuration compared to the Model 3, not due to his superior abilities over Elon Musk, but rather because of the company’s investments, said Xiaomi CEO Lei Jun during a press conference after its launch on Thursday. “Although Tesla's Model 3 achieves break-even at 223,000 yuan, I recognize that the Xiaomi SU7 will face losses,” said Lei. “However, determining the magnitude of these losses presents a challenge. Initially considering a price of 239,000 yuan, we became embroiled in a nationwide pricing discussion, leading to uncertainty regarding a fair price point,” he added.