Welcome to Extreme Investor Network, your go-to source for all things finance and investing. Today, we’re diving into the latest news from the electric car industry, specifically from Chinese smartphone giant Xiaomi.
Xiaomi recently announced that it had delivered over 20,000 units of its SU7 electric sedan in October, marking a significant milestone for the company as it ventures further into the competitive electric car market. This comes as Xiaomi aims to ramp up production and deliver a total of 100,000 SU7 vehicles by the end of November.
Interestingly, Xiaomi’s journey into the electric car space began in 2021, and the company has made remarkable progress since then. In fact, Xiaomi has already delivered more than 75,000 SU7 cars to date, positioning itself as a strong contender in the EV market alongside well-established players like Tesla, Xpeng, Nio, and Zeekr.
One key highlight is Xiaomi’s introduction of a sports car version of the SU7, known as the SU7 Ultra, which is available for pre-orders starting at $110,000. The company received an overwhelming response with over 3,600 pre-orders within 10 minutes of the announcement. This new model is expected to enhance Xiaomi’s premium car lineup, including the SU7 Max, which has been performing well in the market.
Analysts are optimistic about Xiaomi’s prospects in the electric car space, with some forecasting the company to deliver 250,000 cars next year. This positive outlook is further supported by Xiaomi’s recent achievements, such as claiming the title of the fastest four-door sedan to complete the Nurburgring race track in Germany.
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