Xiaomi's marketing efforts have made a significant impact in the highly competitive EV market.The Xiaomi SU7 EV launch was such a resounding success that the vehicle sold out of all of its 2024 inventory within a span of 24 hours, according to InsideEVs. The automaker is the latest to throw its hat in the fray and make a grab for marketshare in China, alongside of leaders BYD and Tesla. Xiaomi's stock raged higher in Hong Kong on the news heading into Tuesday's U.S.
is set to manufacture the vehicle in Beijing, with an initial capacity of 150,000 vehicles annually, doubling in the second phase. Priced around $4,000 less than Tesla's Model 3 in China, the SU7 boasts a longer range, additional interior screens, a head-up display, and a more upscale interior that integrates with Xiaomi's consumer electronics.
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