Xiaomi releases electric car $4K cheaper than Tesla's Model 3 as price wars heat up
Publishing timestamp: 2024-03-28 10:47:46
Summary
Xiaomi CEO Lei Jun announced that the company's first car, the SU7, will be sold at a lower price than Tesla's Model 3 in China. Despite selling at a loss, Lei claimed the SU7 beats the Model 3 on most specifications. The electric car market in China is becoming increasingly competitive, with various companies launching new models and cutting prices to survive. Xiaomi's SU7 is part of the company's strategy to build an ecosystem of connected devices.
Sentiment: MIXED
Tickers: ZE594-CN, 9868-HK, 9866-HK, 1211-HK, 1810-HK, NIO, TSLA, XPEV,
Keywords: breaking news: technology, business news, byd co ltd, technology, nio inc, xiaomi corp, market insider, tesla inc, markets, xpeng inc, autos, stock markets,