{"id":20263,"date":"2024-04-06T23:25:03","date_gmt":"2024-04-06T23:25:03","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/06\/xiaomi-su7-deliveries-set-to-begin-amid-brutal-price-war\/"},"modified":"2024-04-06T23:25:03","modified_gmt":"2024-04-06T23:25:03","slug":"xiaomi-su7-deliveries-set-to-begin-amid-brutal-price-war","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/06\/xiaomi-su7-deliveries-set-to-begin-amid-brutal-price-war\/","title":{"rendered":"Xiaomi SU7 Deliveries Set to Begin Amid Brutal Price War"},"content":{"rendered":"
\"Xiaomi<\/div>


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China’s Xiaomi<\/a> said on Tuesday it will start deliveries of its first electric vehicle (EV) model SU7<\/a> this month, venturing into the world’s largest auto market amid a brutal price war.<\/p>\n

The smartphone maker, China’s fifth-largest, said in a Weibo post it has 59 stores in 29 cities nationwide that will take orders. A launch event is scheduled for March 28 when the new EV’s sticker tag is expected to be announced.<\/p>\n

Xiaomi’s shares rallied 7% during morning trade.<\/p>\n

China’s EV sales climbed 18% in January-February, not too far off 21% growth seen for all of 2023. This year has seen a round of deeper price cuts led by market leader BYD<\/a> to woo consumers amid weakening domestic demand.<\/p>\n

At the unveiling of the Speed Ultra 7<\/a> (SU7) sedan in December, Chief Executive Lei Jun said Xiaomi plans to become one of the world’s top five automakers.<\/p>\n

The SU7, Lei touted, has “super electric motor” technology capable of delivering acceleration speeds faster than Tesla<\/a> and Porsche’s<\/a> EVs.<\/p>\n

Analysts say the car’s shared operating system with Xiaomi’s popular phones and other electronic devices will appeal to the company’s existing customers.<\/p>\n

Xiaomi has been seeking to diversify beyond its core business to EVs amid stagnating demand for smartphones – a plan it first flagged in 2021.<\/p>\n

Its cars will be produced by a unit of state-owned automaker BAIC Group, in a Beijing factory with an annual capacity of 200,000 vehicles.<\/p>\n

The smartphone giant has pledged to invest $10 billion in autos over a decade and is one of the few new players in China’s EV market to gain approval from authorities who have been reluctant to add to a supply glut.<\/p>\n

\u00a9 Thomson Reuters 2024<\/em><\/p>\n\n

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)<\/i><\/p>\n

Affiliate links may be automatically generated – see our ethics statement<\/a> for details.<\/i><\/div>\n<\/div>\n


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China’s Xiaomi said on Tuesday it will start deliveries of its first electric vehicle (EV) model SU7 this month, venturing into the world’s largest auto market amid a brutal price war. The smartphone maker, China’s fifth-largest, said in a Weibo post it has 59 stores in 29 cities nationwide that will take orders. A launch […]<\/p>\n","protected":false},"author":2,"featured_media":20264,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/i.gadgets360cdn.com\/large\/xiaomi_su7_reuters_1710231000839.jpg","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[4248,1984,25830,467,1718,320,14094,3102,6484,25829,25828],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/20263"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=20263"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/20263\/revisions"}],"predecessor-version":[{"id":20265,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/20263\/revisions\/20265"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/20264"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=20263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=20263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=20263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}