"Xiaomi's Electric Car Challenges Tesla in China's EV Market"
TL;DR Summary
Xiaomi's co-founder and CEO, Lei Jun, unveiled the much-hyped electric car, SU7, taking on Elon Musk's Tesla with a marketing strategy reminiscent of Musk's. The car, priced under $30,000, enters a crowded China EV market and has already received 50,000 orders. Lei, known for leading Xiaomi from startup to electronics giant, emphasized the support from Beijing authorities in completing the car in three years. Analysts are divided on whether Xiaomi's foray into EVs will be profitable in the hyper-competitive market.
- With China EV launch, Xiaomi's 'Thor' takes on Elon Musk Yahoo Finance
- Xiaomi SU7 Races Into China EV Market: 88,898 Orders For Tesla Model 3 'Upgrade' Investor's Business Daily
- Xiaomi releases electric car $4K cheaper than Tesla's Model 3 as price wars heat up CNBC
- Xiaomi Unveils New EV Price. It’s More Bad News for Tesla. Barron's
- Xiaomi Prices First EV Competitively, Seeks Pole Position in Crowded Market The Wall Street Journal
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