Xiaomi Triggers a Price War with Tesla with EV Launch | Vantage with Palki Sharma

Chinese phone maker Xiaomi recently launched their first electric car (EV). Within the first 24 hours upon its debut, Xiaomi's EV model was booked by over 88,000 customers. These cars cost $4000 less compared to Tesla, and that makes them more attractive to buyers. Xiaomi's market value shot by 16% today and surpassed the total valuation of companies including General Motors and Ford. However, Xiaomi is reportedly set to bear losses with every sale. According to one estimate, the company would lose $10,000 on every car they sold. Why is Xiaomi entering the EV sector then? Palki Sharma tells you.

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China | Xiaomi | Market Value | Electric Car | Electric Vehicle | EVs | Firstpost | World News | Vantage | Palki Sharma

#china #xiaomi #marketvalue #electriccar #electricvehicle #evs #firstpost #vantageonfirstpost #palkisharma #worldnews

Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.

The show is anchored by Palki Sharma, Managing Editor, Firstpost.

By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories – making Vantage a destination for thought-provoking ideas.

Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.
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