Xiaomi Teases Tesla-Like SUV for Summer in Big EV Expansion

Bloomberg12-10

Xiaomi Corp. showed off a new SUV it plans to sell around the summer of 2025, intensifying an effort to take on Tesla Inc. and BYD Co. in the world’s biggest electric vehicle arena.Billionaire founder...

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12-11
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The 5 meter-long car is a pure electric SUV, fitted with a nickel-cobalt-manganese battery to be made by Contemporary Amperex Technology Co. Ltd. The motor will have a peak power of 220kW or 288kW, according to a separate notice from China’s Ministry of Industry and Information Technology.An SUV would mark a big expansion of Xiaomi’s $10 billion EV endeavor, spearheaded personally by Lei. The company is trying to reduce its reliance on a volatile smartphone market dominated globally by Apple Inc., though with EVs it’s getting into a crowded arena and taking on established rivals Tesla and BYD.It’s unclear what specifications and pricing Xiaomi envisions for the SUV — a type of larger vehicle gaining in popularity across China. 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