Xiaomi Corporation (XIACY)
- Reuters
Xiaomi says sales of its electric car 3-5 times higher than expected
Sales of Chinese smartphone maker Xiaomi's first electric car have been 3-5 times higher than expected, CEO Lei Jun said on Thursday, as the company began delivering standard versions of the so-called SU7 to buyers ahead of schedule. Lei, Xiaomi's founder, made the comments during a two-hour livestream on Douyin, the Chinese equivalent of TikTok, that garnered over 34 million viewers. Xiaomi launched its car, which draws styling cues from Porsche, late last month, entering a crowded China EV market with an attention-grabbing price tag - under $30,000 for the base model, which is $4,000 cheaper than the base model of Tesla's Model 3 in China.
- Bloomberg
Xiaomi’s Success Means More Trouble for Battered China EV Stocks
(Bloomberg) -- Xiaomi Corp.’s roaring entry into the electric vehicle market is dimming the recovery outlook for China’s beaten down auto startups.Most Read from BloombergBeyond the Ivies: Surprise Winners in the List of Colleges With the Highest ROIChina Tells Iran Cooperation Will Last After Attack on IsraelS&P 500 Futures Steady After Selloff Rattles Globe: Markets WrapIran’s Attack on Israel Sparks Race to Avert a Full-Blown WarMicrosoft Invests $1.5 Billion in UAE’s G42 in Pivot From ChinaH
- Barrons.com
Apple iPhone Shipments Drop 10% in Market Share Battle With Chinese Rivals
China’s Xiaomi shipped 33.4% more smartphones in the first quarter than in the same period a year ago and its market share strengthened.
