Energy News
CAR TECH
Xiaomi announces release date for first EV, shares surge
Xiaomi announces release date for first EV, shares surge
by AFP Staff Writers
Beijing (AFP) Mar 12, 2024

Chinese electronics giant Xiaomi will start deliveries of its first electric vehicle by the end of March, the firm's boss said Tuesday, bringing its highly anticipated entry into the automotive industry to the brink of completion.

Xiaomi -- the world's third-largest smartphone manufacturer -- also produces tablets, smartwatches, headphones, and scooters.

In 2021, the Beijing-based firm announced its planned foray into the electric vehicle sector, made highly competitive in recent months as top Chinese brands engage in an aggressive price war.

"The Xiaomi SU7 will be officially released on March 28," Lei Jun, the company's founder and CEO, wrote on Chinese social media site Weibo.

The announcement was accompanied by a photo of the new vehicle, which was first unveiled to the press in December.

The firm's shares soared nearly 10 percent by midday in Hong Kong, where the firm is listed.

Equipped with Xiaomi software and electronic features, the SU7 is produced by Chinese auto giant BAIC.

Its batteries -- with a driving range of up to 800 kilometres (500 miles) -- are supplied by China's largest electric automaker BYD, as well as domestic battery giant CATL.

"The goal is to become one of the world's top five automotive manufacturers through 15 to 20 years of hard work," Lei said in December.

Many top tech firms in China -- the world's largest auto market -- have invested recently in the country's EV sector, where foreign firms have struggled to get a foothold.

Founded in 2010, Xiaomi has achieved rapid growth through its strategy of marketing high-end devices at affordable prices, initially directly through online channels.

sbr-pfc/je/dan

Weibo

Related Links
Car Technology at SpaceMart.com

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
CAR TECH
France's EDF teams up with Morrison to nearly double EV fast chargers network
Paris (AFP) Feb 29, 2024
France's state-owned electricity company EDF said Thursday it had teamed up with infrastructure firm Morrison to nearly double the country's network of rapid EV charging stations. The strategic partnership with the New Zealand firm foresees investing up to 450 million euros ($490 million) to build nearly 8,000 charging stations in public parking lots through 2030, adding to the estimated 9,500 rapid charging points currently in operation in France. "It is the most ambitious development programme ... read more

CAR TECH
Stormclouds gather over EU's Green Deal

Green claims would need hard proof under proposed EU law

Climate perils costing US 0.4% of its GDP: Swiss Re

World needs 'trillions' for climate action: COP28 president

CAR TECH
Power when the sun doesn't shine

UK 'net zero' economy bucks recession: study

Leveraging magnetic field flaws for enhanced plasma stability in a fusion reactor

Tests show high-temperature superconducting magnets are ready for fusion

CAR TECH
Wind-powered Dutch ship sets sail for greener future

Leaf-shaped generators create electricity from the wind and rain

European offshore wind enjoys record year in 2023

Danish firm to build huge wind farm off UK

CAR TECH
Germany launches major subsidy scheme for greener industry

Dartmouth engineering team discovers new high-performance solar cell material

Advanced material science enhances silicon solar cell efficiency

Harnessing Sunlight from Above: The Rise of Skysun's Solar Solutions

CAR TECH
Orano secures uranium enrichment services deal with CEZ

Framatome partners with TerraPower for Natrium reactor fuel handling equipment design

IAEA warns against restarting Ukraine nuclear plant

IAEA chief to hold talks with Putin about Ukraine nuclear plant

CAR TECH
Greenhouse gas repurposed in University of Auckland experiments

Inexpensive, carbon-neutral biofuels are finally possible

Watching the enzymes that convert plant fiber into simple sugars

Microbial division of labor produces higher biofuel yields

CAR TECH
UNIST paves the way for revolutionary high-density hydrogen storage solutions

Britain vows to build new gas power stations

Oil spills pile on pressure for Iraq's farmers

Vessel targeted off Yemen: security firm

CAR TECH
Oranges wither, cows go hungry in drought-hit Sicily

Zambia declares national disaster over El Nino drought

US-listed companies required to disclose climate emissions

Morocco winter breaks heat records: meteorologists

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.