EV

China’s Xiaomi is selling so many electric cars it’s closer to breaking even

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The Xiaomi SU7 on display at the Mobile World Congress 2024.

Arjun Kharpal | CNBC

BEIJING — Chinese smartphone company Xiaomi‘s new electric vehicle is selling better than expected, putting it closer to break-even despite undercutting Tesla‘s Model 3 on price.

Xiaomi has received more than 70,000 orders for its electric SU7 sedan as of April 20, close to the company’s original full-year target for deliveries this year, CEO Lei Jun told investors Tuesday.



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