The new face in the EV race
The company, best known for its smartphones, would need to navigate the new automotive space's economic headwinds and technological challenges to emerge as a contender.
In EV land, there's always something interesting that is happening, especially as Tesla and other EV companies have seen massive declines in their stock values in recent months.
Still, there is a remarkable surge in the adoption of EV cars. Xiaomi wants to take a bite out of the $300 billion Chinese EV market with its SU7 electric car – which is $4,000 cheaper than Tesla’s Model 3 – as it makes its foray into China's competitive EV market, currently dominated by Tesla and BYD.
The company, best known for its smartphones (third in the world after Apple and Samsung), would need to navigate the new automotive space's economic headwinds and technological challenges to emerge as a contender.
Happy holidays,
– Henry
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