Xiaomi Enters Electric Vehicle Market with Affordable Models
Chinese tech giant Xiaomi has introduced its first electric car, the SU7, priced competitively at 215,900 yuan for the standard model and 299,900 yuan for the Max version.
The company received over 50,000 orders within the first 27 minutes of sales, challenging rivals like Tesla and BYD.
Xiaomi aims to capitalize on its existing customer base by integrating the SU7 with its other devices. The move comes amid a slowdown in global EV sales, prompting a price war in the market.
Despite challenges, Xiaomi plans to invest $10bn in its vehicle business over the next decade.
However, the company faces stiff competition and regulatory hurdles in a crowded EV market.
Source : BBC
https://www.bbc.com/news/business-68672192