Mar 28, 2024 02:52 PM
BUSINESS
Xiaomi’s $8 Billion Rally at Stake as Costly EV Bet Makes Debut
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
Xiaomi’s has yet to disclose the price of its first electric car, the SU7. Photo: Bloomberg
(Bloomberg) — Xiaomi Corp.’s $8 billion stock rally faces a key test when the Chinese smartphone giant unveils its first electric vehicle (EV) Thursday, as it attempts to muscle into an unfamiliar and intensely competitive market.
It will start selling its SU7 series in China, the result of a $10 billion foray into the world’s largest EV market dominated by Tesla Inc. and BYD Co. Ltd. The sedan will probably enter the most competitive segment, based on pricing predictions by analysts.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
Share this article
Open WeChat and scan the QR code
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新