Xiaomi raises 2021 SU7 electric SUV target to 120,000 units, aiming to compete with Tesla.
Chinese tech giant Xiaomi raised its target for its electric SUV, the SU7, to 120,000 units in 2021, showing confidence in its ability to compete with Tesla in the electric car market. The company reported a 27% growth in its first-quarter revenue, driven by strong smartphone sales. Xiaomi aims to launch a sport utility vehicle similar to Tesla's Model Y by 2025 and plans to have a network of 219 sales stores in 46 cities by 2024.
May 23, 2024
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