Source: International Business Times
China's Xiaomi enters the car market with a new electric vehicle, the SU7 AFP Chinese consumer tech giant Xiaomi launched its first electric vehicle in Beijing on Thursday, injecting itself into a fiercely competitive sector in the world's largest car market. China's EV sector has grown rapidly in recent years -- propelled by purchasing subsidies that were discontinued in late 2022 -- and dozens of domestic automakers are engaged in a stiff price war to get ahead in a crowded market. Xiaomi is known for its affordable smartphones and home appliances, and CEO Lei Jun says he is now putting his "reputation on the line" with the SU7 EV, challenging Chinese car giant BYD and Elon Musk's Tesla.
