Xiaomi announces release date for first EV, shares surge

In 2021, the Beijing-based firm announced its planned foray into the electric vehicle sector, made highly competitive in recent months as top Chinese brands engage in an aggressive price war. — REUTERS/Florence Lo/File Photo

BEIJING: Chinese electronics giant Xiaomi will start deliveries of its first electric vehicle by the end of March, the firm's boss said Tuesday, bringing its highly anticipated entry into the automotive industry to the brink of completion.

Xiaomi – the world's third-largest smartphone manufacturer – also produces tablets, smartwatches, headphones, and scooters.