, cofounder of Chinese smartphone giant Xiaomi, became $1.3 billion richer on Monday after the launch of the company’s first electric vehicle wowed the market.
“The stock has received a boost from Xiaomi’s new energy vehicle,” says Kenny Ng, a Hong Kong-based securities strategist at Everbright Securities. “The initial orders have exceeded market expectations.”pricing for the much anticipated SU7 electric sedan, which will range from 215,900 yuan to 299,900 yuan. The company later said initial orders reached almost 90,000 units within the first 24 hours of the launch event.
for Xiaomi, which is collaborating with state-owned automaker BAIC Group to manufacture the vehicles and is gradually boosting production.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: