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Xiaomi’s Electric SUV Debut Ignites Stock Surge, Challenges Tesla’s Dominance
Xiaomi’s Electric SUV Debut Ignites Stock Surge, Challenges Tesla’s Dominance
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BTCCSquare news:
Xiaomi Corp. shares soared 3.6% to a record HK$58.95 as its YU7 electric SUV captured market imagination. The vehicle's 289,000 pre-orders within its first hour reveal potent consumer demand for tech-integrated EVs at disruptive price points.
Priced aggressively at 253,500 yuan ($35,300), the YU7 undercuts Tesla's Model Y while offering superior range. Xiaomi's ecosystem advantage - seamless integration with its smart devices - creates a defensible moat in China's cutthroat EV arena.
'Even as a mobile phone manufacturer we are jealous,' conceded a Vivo executive, underscoring how Xiaomi's tech pedigree resonates in automotive markets. The stock's rally reflects investor conviction that ecosystem players may rewrite EV industry rules.
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