Market Chatter: Xiaomi Denies Price Cut Rumors for SU7

MT Newswires Live06-11

Xiaomi (HKG:1810) has denied claims about price cuts for its SU7 electric vehicle to increase sales, according to The Standard on Tuesday, citing a Weibo post from Wang Hua, the general manager for the company's public relations department.

Social media posts claimed that the company is giving up to 20,000 yuan in subsidy for Xiaomi's first electric car, the report said.

Wang denied the price cuts, suggesting it was not their policy. The various SU7 variants are priced between 215,900 yuan and 299,900 yuan, the publication noted.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (HKD): $17.62, Change: $-0.34, Percent Change: -1.89%

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