reported According to Reuters, Ukrinform.

As mentioned, the company has 59 automobile stores in 29 cities of the People’s Republic of China, and these stores will accept orders for Xiaomi electric cars starting from March 28.

Following this announcement, the company’s shares gained 7% in morning trading.

Xiaomi CEO Lei Jun said during the launch of the Speed ​​Ultra 7 (SU7) sedan in December last year that the company plans to become one of the top five automakers in the world.

According to him, SU7 has “super electric motor” technology that can accelerate the electric car faster than Tesla or Porsche electric cars.

Market analysts predict that the electric car’s common operating system with popular Xiaomi smartphones and other electronic devices may gain popularity among buyers.

In an environment where demand for smartphones remains stagnant, Xiaomi is trying to diversify beyond its core business and develop electric vehicles, which it first announced in 2021.

The first Xiaomi SU7 electric car / Photo: Xiaomi

The company plans to produce at least 200,000 electric cars every year at Chinese automaker BAIC Group’s factory in Beijing.

Xiaomi plans to invest $10 billion in auto manufacturing over a decade and is one of several new players in China’s world’s largest electric car market to win approval from Chinese authorities, despite efforts to tightly regulate the industry to prevent a growing oversupply.

Electric vehicle sales in China increased by 18% in January-February; This is in line with the 21% growth seen last year.

British automaker Ukrinform reported. Aston Martin announced that it has postponed the launch of its first electric car by a year due to weak demand for battery electric cars.