Xiaomi takes on Tesla in Chinese auto market with $29,870 electric car

Xiaomi takes on Tesla in Chinese auto market with $29,870 electric car

FILE PHOTO: Visitors film around Xiaomi's first electric vehicle, the SU7, displayed at an event in Beijing, China December 28, 2023. REUTERS/Florence Lo/File Photo

Chinese smartphone maker Xiaomi launched a sporty electric car on Thursday with styling cues drawn from Porsche and priced below Tesla‘s Model 3, highlighting the stiff competition from new entrants in an already crowded EV market in China.

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