Xiaomi shares soared on the Hong Kong stock exchange amid the announcement of the start of sales of the company’s first electric car. The SU7, which will compete with Porsche and Tesla, will go on sale in China on March 28.
Join
Xiaomi announced the start of sales of its first electric car. SU7 will go on sale in China on March 28, the company said on Weibo.
The news about the start of sales caused a rapid increase in Xiaomi’s share price. According to current data at the time of this publication, the company’s securities on the Hong Kong Stock Exchange are rising in price by 11.3%.
Xiaomi presented its first electric car at the end of December 2023. According to the company’s CEO, Lei Jun, the SU7 will compete with the Tesla Model S and the Porsche Taycan Turbo.
Pricing for the SU7 is not yet known. According to Bloomberg analysts, the price will be the decisive factor in the volume of demand for the Xiaomi electric car. In the first year of sales, Xiaomi will be able to sell up to 50 thousand SU7, analysts believe.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
