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Smartphone Maker

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business-technology2 years ago•3 min saved

Xiaomi Unveils $29,900 Electric Car to Challenge Tesla in Crowded Market

Xiaomi Corp. is launching its first electric vehicles, the SU7 series, with aggressive pricing starting at $29,900, aiming to succeed in the competitive EV market where Apple faltered. The company plans to begin mass deliveries by the end of April and is sweetening the deal for early orders with additional freebies. Xiaomi's CEO Lei Jun presented the strategy, benchmarking against Tesla's Model 3 and the electric Porsche Taycan, and aims to become a top global carmaker in 15 to 20 years. The ambitious EV bet arrives at a time of slowing growth for China’s electric car purchases, with industry projections showing a decline in sales growth.

via Yahoo Finance|

#business-technology #china #electric-vehicles

business-technology2 years ago•1 min saved

"Xiaomi's First EV Launch Sparks Stock Surge and Tesla Showdown"

Xiaomi, the Chinese smartphone maker, announced that it will begin deliveries of its first electric vehicle (EV) model, the SU7, this month, marking its entry into the competitive EV market in China. The company's shares surged by 7% following the news. Xiaomi plans to leverage its existing customer base by integrating its cars with its popular phones and electronic devices. The SU7 is equipped with advanced electric motor technology and is set to be unveiled at a launch event on March 28. Xiaomi aims to become one of the world's top five automakers and has invested $10 billion in its auto venture over a decade.

via Reuters|

#business-technology #china #electric-vehicle