This article is from the source 'bbc' and was first published or seen on . The next check for changes will be
You can find the current article at its original source at https://www.bbc.co.uk/news/business-68541164#0
The article has changed 3 times. There is an RSS feed of changes available.
Version 1 | Version 2 |
---|---|
China technology giant Xiaomi starts electric car sales | China technology giant Xiaomi starts electric car sales |
(17 days later) | |
Xiaomi's SU7 electric car | Xiaomi's SU7 electric car |
Chinese technology giant Xiaomi says it will start deliveries of its first electric vehicle (EV) this month - its first ever foray into the competitive automotive industry. | Chinese technology giant Xiaomi says it will start deliveries of its first electric vehicle (EV) this month - its first ever foray into the competitive automotive industry. |
The car's price is expected to be announced on 28 March. | The car's price is expected to be announced on 28 March. |
China's fifth-largest smartphone maker says it has 59 stores in 29 cities around the country to take orders. | China's fifth-largest smartphone maker says it has 59 stores in 29 cities around the country to take orders. |
It comes as a price war intensifies between firms like BYD and Tesla in China, the world's biggest car market. | It comes as a price war intensifies between firms like BYD and Tesla in China, the world's biggest car market. |
At the unveiling of the Speed Ultra 7 (SU7) last year, Xiaomi's chief executive Lei Jun said the company aims to become one of the top five car makers in the world. | |
The smartphone giant has said it will invest $10bn (£7.8bn) in its vehicles business over the next 10 years. | The smartphone giant has said it will invest $10bn (£7.8bn) in its vehicles business over the next 10 years. |
Mr Lei said the SU7 was "super electric motor" technology which is capable of accelerating faster than some Tesla and Porsche EVs. | Mr Lei said the SU7 was "super electric motor" technology which is capable of accelerating faster than some Tesla and Porsche EVs. |
Xiaomi is also hoping that the car's shared operating system with its phones and other devices will appeal to existing customers. | Xiaomi is also hoping that the car's shared operating system with its phones and other devices will appeal to existing customers. |
It is one of the few new prospective entrants to the China's electric car market to gain approval from authorities as officials try to curb a flood of new players. | It is one of the few new prospective entrants to the China's electric car market to gain approval from authorities as officials try to curb a flood of new players. |
The SU7 will be made by a unit of state-owned car manufacturer BAIC Group at a plant in Beijing that can produce as many as 200,000 vehicles a year. | The SU7 will be made by a unit of state-owned car manufacturer BAIC Group at a plant in Beijing that can produce as many as 200,000 vehicles a year. |
The launch of Xiaomi Automobile comes as a price war in China's EV market has been intensifying. | The launch of Xiaomi Automobile comes as a price war in China's EV market has been intensifying. |
Tesla, which is headed by multi-billionaire Elon Musk, has cut the cost of its cars in China by thousands of dollars in recent months as local rivals like BYD have slashed its prices. | Tesla, which is headed by multi-billionaire Elon Musk, has cut the cost of its cars in China by thousands of dollars in recent months as local rivals like BYD have slashed its prices. |
Xiaomi shares jumped by more 10% in Hong Kong after today's announcement. | Xiaomi shares jumped by more 10% in Hong Kong after today's announcement. |
Related Topics | Related Topics |
International Business | |
Xiaomi | Xiaomi |
Tesla | Tesla |
Electric cars | Electric cars |