Chinese Tech Giant Xiaomi to Start Selling Electric Vehicles

Chinese technology giant Xiaomi says it will start deliveries of its first electric vehicle, EV, this month – its first ever foray into the competitive automotive industry.

The car’s price is expected to be announced on March 28.

China’s fifth-largest smartphone maker says it has 59 stores in 29 cities around the country to take orders.

It comes as a price war intensifies between firms like BYD and Tesla in China, the world’s biggest car market.

At the unveiling of the Speed Ultra 7, SU7, last year, Xiaomi’s chief executive Lei Jun said the company aims to become one of the top five car makers in the world.

The smartphone giant has said it will invest US $10 billion in its vehicles business over the next 10 years.