(Yicai) Feb. 17 -- The Xiaomi SU7 Ultra, the latest electric vehicle made by the Chinese electronics giant, set a new record for the fastest lap at the Shanghai International Circuit, dethroning the Porsche Taycan Turbo GT.

The SU7 Ultra became the fastest mass-produced EV to lap the SIC with a time of 2 minutes and 9.944 seconds, Xiaomi Auto announced on Feb. 14.

Porsche congratulated Xiaomi on the record set by the "Made in China" SU7 Ultra and proposed to "meet again on the next 'track'" via its Weibo account on the same day.

The SU7 Ultra debuted in 112 stores in 42 Chinese cities with a pre-sale price of CNY815,000 (USD112,390) on Feb. 5, while its official launch will be at the end of the month. The car was unveiled last November when pre-orders exceeded 3,680 within 10 minutes.

With a maximum horsepower of 1,548 and a designed top speed of 350 kilometers per hour, Xiaomi aims for the auto to be the world's fastest four-door mass-produced car and has set an annual sales target of 10,000 units.

Xiaomi has delivered 160,000 cars since the start of last year, shipping more than 20,000 units for four consecutive months, Chairman Lei Jun said on Feb. 12. The firm has doubled production from the designed capacity, aiming for deliveries to top 300,000 units this year, he added.

Editors: Tang Shihua, Martin Kadiev