This post is also available in:
简体中文 (Chinese)
Orders for Xiaomi’s first electric car exceeded expectations, sparking investor optimism and sending its stock price soaring 16%. Orders reached nearly 90,000 units on the first day, and analysts believe its model SU7 is expected to compete with Tesla Model 3. However, manufacturing capacity improvements have become the focus, and the average waiting time has extended to 18-21 weeks.
Competition in the global electric vehicle market is fierce and the growth rate of the Chinese market is slowing down. Xiaomi’s entry may threaten its peers. The move could prompt rivals such as Xpeng Motors and BYD to adjust prices in response to competition.
(Source: freemalaysiatoday Image source: unsplash)
