Apr 02, 2024 02:48 PM
BUSINESS
Xiaomi Jumps as Investors Cheer Early Signs of EV Success
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Xiaomi said it received orders of nearly 90,000 units within the first 24 hours. Photo: Bloomberg
(Bloomberg) — Xiaomi Corp. surged in Hong Kong as orders for its first electric vehicle (EV) topped estimates, fueling optimism the smartphone-maker may succeed in China’s cutthroat car market.
Shares rose as much as 16% in the first day of trading since Beijing-based Xiaomi kicked off sales of its cars. The company said it received orders of nearly 90,000 units within the first 24 hours.
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