Author: Anan Ashraf
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Chinese EV Contender Xiaomi’s Budget ‘Tesla Killer’ Zooms Past Sales Expectations By 3-5 Times
The sales of the first electric car by Chinese smartphone manufacturer Xiaomi Corp (OTC:XIACF) have reportedly exceeded expectations by three to five times. What Happened: Company CEO Lei Jun revealed the unexpected sales figures during a live stream on Douyin, the Chinese equivalent of TikTok, Reuters reported. The SU7, which was launched last month, has…
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China’s Newest EV Entrant Ignites Another Fierce Price War — Even Small Fry Feel The Heat
The debut of Xiaomi Corporation’s (OTC:XIACF) electric vehicle (EV) in China has ignited a fierce price war, forcing smaller players to cut prices to protect their market share. What Happened: The launch of Xiaomi’s first EV, the SU7, has led to a price war in the Chinese EV sector, reducing the profit margins of several…