Xiaomi's First Electric Vehicle SU7 To Be Priced Below $70,000
Portfolio Pulse from Anan Ashraf
Xiaomi (OTC:XIACF) announced its first electric vehicle, the SU7 sedan, will be priced below $70,000. The vehicle, with two versions offering up to 800km range, surpasses Tesla's Model S in range. Official pricing will be revealed on March 28, with orders starting subsequently. Xiaomi aims to enter the top five automakers, with the CEO comparing the SU7 to Porsche Taycan and Tesla Model S. Despite new initiatives expenses, Xiaomi reported a 126.3% year-on-year profit growth for 2023.
March 25, 2024 | 12:01 pm
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Xiaomi's announcement of its first EV, the SU7, priced below $70,000 with superior range, positions it as a strong contender in the EV market. The company's year-on-year profit growth of 126.3% for 2023 highlights its financial strength.
The announcement of the SU7, with its competitive pricing and superior range, directly impacts Xiaomi's market positioning in the EV sector. The company's significant profit growth indicates strong financial health, potentially boosting investor confidence.
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