From Nasdaq, Inc.: 2024-03-27 19:00:00

China’s Xiaomi is set to launch its electric vehicle, pricing it below 500,000 yuan. The car has drawn comparisons to Porsche models. CEO Lei Jun’s $10 billion investment fulfills a 2021 announcement. Experts are divided on the car’s success in a crowded market. Xiaomi’s smartphone expertise gives it an edge.

Xiaomi’s SU7 enters a challenging Chinese auto market characterized by a price war and slowing demand. Analysts warn of profit risks for Xiaomi if sales don’t scale quickly. However, the company’s financial stability and technological expertise may give it an advantage over competitors. The SU7 features advanced technology and long driving ranges.



Read more at Nasdaq, Inc.: Xiaomi set for plunge into EVs at a tricky time for China autos