The debut of Xiaomi Corporation’s (OTC:XIACF) electric vehicle (EV) in China has ignited a fierce price war, forcing smaller players to cut prices to protect their market share.
What Happened: The launch of Xiaomi’s first EV, the SU7, has led to a price war in the Chinese EV sector, reducing the profit margins of several players in the country, reported South China Morning Post (SCMP) on Sunday.
The SU7 has a starting price of 215,900 yuan (about $29,850), lower than even the Tesla Model 3 in China. The pricier variants of the sedan, called Pro and Max, start at 245,900 ($33,997) and …
Full story available on Benzinga.com
The debut of Xiaomi Corporation’s (OTC:XIACF) electric vehicle (EV) in China has ignited a fierce price war, forcing smaller players to cut prices to protect their market share.
What Happened: The launch of Xiaomi’s first EV, the SU7, has led to a price war in the Chinese EV sector, reducing the profit margins of several players in the country, reported South China Morning Post (SCMP) on Sunday.
The SU7 has a starting price of 215,900 yuan (about $29,850), lower than even the Tesla Model 3 in China. The pricier variants of the sedan, called Pro and Max, start at 245,900 ($33,997) and …
Full story available on Benzinga.com
The debut of Xiaomi Corporation’s (OTC:XIACF) electric vehicle (EV) in China has ignited a fierce price war, forcing smaller players to cut prices to protect their market share.
What Happened: The launch of Xiaomi’s first EV, the SU7, has led to a price war in the Chinese EV sector, reducing the profit margins of several players in the country, reported South China Morning Post (SCMP) on Sunday.
The SU7 has a starting price of 215,900 yuan (about $29,850), lower than even the Tesla Model 3 in China. The pricier variants of the sedan, called Pro and Max, start at 245,900 ($33,997) and …Full story available on Benzinga.com Read MoreAsia, benzinga neuro, electric vehicles, EVs, mobility, News, XIACF, Xiaomi SU7, Top Stories, Markets, Tech, XIACF, News, Asia, Top Stories, Markets, Tech, Benzinga Asia
