Xiaomi’s new-generation SU7 launch sparks fresh EV fight with Tesla in China

Xiaomi’s updated SU7 electric vehicle (EV) is expected to bite into the market share of Tesla and some domestic rivals in China, as demand weakens and regulators tighten oversight. Founder and CEO Lei Jun on Thursday announced official pricing for the new-generation smart sedan, with the standard edition starting at 219,900 yuan (US$31,900) and the pro and max variants set at 249,900 yuan and 303,900 yuan, respectively. The figures are 10,000 yuan lower than pre-sale estimates, but 4,000 yuan...

By Themis Qi