The shares of Xiaomi Corp. rose 8% to a lifelong high after the smartphone manufacturer has received strong initial orders for a 35,000 US dollar for sports supply companies in Tesla Inc. in China.
The company decreased the 253,500 Yuan ($ 35,360) Yu7 on Thursday and made his second car in a crowded EV market, while he was examining his technology for assisting journey. Xiaomi drew a better than expected order in his first hour of availability.
The founder of Xiaomi, Lei Jun, attacked Tesla head-on during the start event on Thursday and stacked his vehicle against the Y model, as he compares MI devices with the iPhone. The price of the Yu7 – in accordance with the expectations of the analysts – is out in just below the 263,500 Yuan for the latest version of the Y, China’s most popular SUV. Byd Co.’s Tang L SUVSomewhat smaller than the Yu7, is sold for 239,800 Yuan and 289,800 Yuan.
“We will face the greatest competitor and also face violent challenges from all other manufacturers,” said Lei at the start event in Beijing.
Lei, who became famous with bold plans to relieve Apple Inc. in China, counts on EVS to adopt Elon Musks Tesla and fuel the last chapter of his entrepreneurial career. He put Xiaomi in new arenas, from chip design to AI glasses, and promised to spend 200 billion yuan over five years to turn the Chinese company into a global device guide.
The company took pre -orders on Thursday with a deposit of 5,000 Yuan. In a surprising turn, Lei explained that buyers of Xiaomi’s first car – the Su7 sedan – have three days to switch to the SUV if they have not taken over the original vehicle. Shortly after the event, Xiaomi announced that it had processed more than 200,000 pre -orders for the YU7 within three minutes.
“The demand from consumers according to Xiaomis Yu7 exceeds our expectations and market expectations that should enable Xiaomi to continue consolidating its management position on the Premium car market in China,” wrote the Goldman Sachs Group Inc., including Timothy Zhao. They increased their price target for the share to 69 HK $.
The Top model Goes for 329,900 Yuan and can travel 760 kilometers (470 miles) with a single load in 3.23 seconds and accelerate to 100 kilometers per hour. They are available in 9 colors, all of which are equipped with lidar, which strengthens driver aid technology, and a 800 -volt platform for fast charging. Many are the touches and amenities with Chinese drivers, from large touchscreens and massage chairs to drawers.
The new model will be an important test of the demand for Xiaomi cars according to a fatal case Accident With a Su7 sedan that was triggered Test by Chinese authorities and hammered orders.
The debut of the Yu7 falls with increased concerns from the Chinese authorities about an extended Price war. Byd, Xiaomi and more than a dozen other car manufacturers were warned regulate yourself And prevent the use of “Zero-Mileage” from being used to increase the sales figures and pay suppliers in good time to improve the overall cash flow of the entire supply chain.
Lei is still confident that the prospects for Xiaomi’s foray in cars and the prediction of the new model will help to achieve the EV unit of the company profitability In the second half – one of the fastest brands that hit this milestone in the automotive sector.
Investors Have warmed up to this vision and send shares north. Now it is larger than BYD – the EV power house that dominates the Chinese market – and its SU7 is the Tesla model 3 so far this year.
Beyond Cars also showed the event on Thursday a few 1,999 Yuan-Ki glasses Yuan, who can answer videos and answer questions from visual information. The Mix Flip 2, Xiaomis new folding phone; And a tablet that uses its internal XRing O1 chip.
