Xiaomi to deliver first batch of electric vehicles this month in China
Xiaomi will this month start deliveries of its first electric vehicle (EV) in China, it said on Tuesday, venturing into the world’s largest auto market at a time of aggressive price competition.
The smartphone maker, China’s fifth-largest, said in a Weibo post that 59 of its stores in 29 cities nationwide will take orders for its new Speed Ultra 7 (SU7) sedan. A launch event is scheduled for March 28, when the new EV’s sticker tag is expected to be made public.
China’s EV sales climbed 18% in January-February, not far from the 21% growth seen for all of 2023. This year, market leader BYD led a round of deep price cutting to try to woo consumers in the face of weaker domestic demand.
