Xiaomi Challenges Tesla with New Luxury Electric Vehicle

Xiaomi Corp. has announced its ambition to make its maiden SU7 one of China’s top three luxury electric vehicle models, posing a challenge to Tesla Inc. and other competitors in a growing market. President Lu Weibing revealed the internal target for the SU7, set to go on sale on March 28, marking a significant move for Xiaomi as it enters the world’s largest EV market. The launch will test both Xiaomi’s technological capabilities and the competitive market conditions in China.