Chinese technology giant Xiaomi is poised to make a significant entrance into the electric vehicle (EV) market with the launch of its first electric car, the Speed Ultra 7 (SU7), and the commencement of orders on Thursday.
The company’s Chief Executive, Lei Jun, disclosed earlier this week that the SU7 would be competitively priced below 500,000 yuan ($69,186; £54,836), positioning Xiaomi to compete directly with established rivals like Tesla and BYD.
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