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While the world's largest auto market is challenging for newcomers due to a cut-throat EV price war underway and slowing demand, analysts have said Xiaomi has deeper pockets than most EV startups and its smartphone expertise gives it an edge in smart dashboards - a feature prized by Chinese consumers.
A Xiaomi SU7 test car was seen crashing into the curb on the side of the road. Around 90,000 customers reserved a car in the first 24 hours
Depending on the model ordered, buyers could get their vehicles delivered earlier. Xiaomi introduced its first electric vehicle just last month called the SU7, and prospective buyers are already lining up to get one for themselves.
Xiaomi Ev: Xiaomi's shares rose 16% following the launch of its electric vehicle, the SU7. Despite strong interest with 88,898 pre-orders, Citi Research predicts significant losses due to fierce competition in the Chinese EV market.
Shares of China's Xiaomi were up as much as 16% on Tuesday as the electronics maker's sporty electric vehicle (EV) launched last week garnered...