Tag: $Xiaomi

Xiaomi Corp. reported its fastest pace of revenue growth since 2021, buoyed by the initial success of its first electric vehicles and a global smartphone market bounceback.

Chinese consumer electronics company Xiaomi on Thursday detailed plans to enter China’s oversaturated electric vehicle market and compete with automaker giants Tesla and Porsche with a car model it says it spent more than 10 billion yuan ($1.4 billion) to develop.