Xiaomi Triggers a Price War with Tesla with EV Launch | Vantage with Palki Sharma
Xiaomi Triggers a Price War with Tesla with EV Launch | Vantage with Palki Sharma
Chinese phone maker Xiaomi recently launched their first electric car (EV). Within the first 24 hours upon its debut, Xiaomi's EV model was booked by over 88,000 customers. These cars cost $4000 less compared to Tesla, and that makes them more attractive to buyers. Xiaomi's market value shot by 16% today and surpassed the total valuation of companies including General Motors and Ford. However, Xiaomi is reportedly set to bear losses with every sale. According to one estimate, the company would lose $10,000 on every car they sold. Why is Xiaomi entering the EV sector then? Palki Sharma tells you.
China | Xiaomi | Market Value | Electric Car |
Electric Vehicle | EVs | Firstpost | World News | Vantage |
Palki Sharma
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