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BEIJING (AFP) – Chinese consumer tech giant Xiaomi will launch its first-ever EV at a press conference in Beijing Thursday, injecting itself into a fiercely competitive sector in the world’s largest car market. China’s EV sector has grown rapidly in recent years – propelled by purchasing subsidies that were discontinued in late 2022 – and […]
Xiaomi's $8 billion stock rally hinges on its first electric vehicle SU7 launch in China, challenging Tesla and BYD. Analysts predict positive momentum but foresee profitability challenges in China's competitive EV market.
Xiaomi's entry into the electric car market comes as a price war has been intensifying.
Xiaomi's $8 billion stock rally hinges on its first electric vehicle SU7 launch in China, challenging Tesla and BYD. Analysts predict positive momentum but foresee profitability challenges in China's competitive EV market.
Xiomi EVs: The launch fulfills an ambition of Xiaomi's CEO and founder Lei Jun, who announced the company's foray into EVs in 2021. He pledged to invest USD 10 billion in Xiaomi's auto business, describing it as "the last major entrepreneurship project" of his life.