Xiaomi and BYD Enter the Electric Vehicle Market in China
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Xiaomi Corp. shares rose 7.5% in Hong Kong after announcing it will start selling its electric vehicles (EVs) on March 28. The Beijing-based electronics giant will make its SU7 series available for purchase in 29 cities. Xiaomi is entering the red-hot EV market in China, competing with Tesla Inc. and BYD Co. Ltd. The company's co-founder, Lei Jun, has called the EV endeavor his final entrepreneurial bet.
Xiaomi, the Chinese tech giant, has officially unveiled its first electric car, the SU7. However, the prices of the car have caused controversy even before its official release. Xiaomi, known for its affordable products, has made a significant investment in entering the electric car market. The SU7 boasts impressive features and is positioned to compete with models from Porsche and Tesla....
#newstr #Xiaomi #Byd #ElectricVehicle #China