China’s Xiaomi to enter cut-throat EV market for the first time

Visitors to the Xiaomi Automobile flagship store looks at the Xiaomi SU7 electric car on display in Beijing, Tuesday, March 26, 2024. Chinese smartphone maker Xiaomi announced that it will deliver its first electric vehicle on March 28, 2024. — AP

BEIJING: Chinese consumer tech giant Xiaomi will launch its first-ever EV at a press conference in Beijing March 28, injecting itself into a fiercely competitive sector in the world's largest car market.

China's EV sector has grown rapidly in recent years – propelled by purchasing subsidies that were discontinued in late 2022 – and dozens of domestic automakers are engaged in a stiff price war to get ahead in a crowded market.