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Smartphone company hits the road with new EV idea
Xiaomi, a Chinese smartphone giant, debuted its electric vehicles (EVs) after Apple’s withdrawal, swiftly selling out within 24 hours.
These EVs boast extended range, 5-minute charging using CATL batteries (in contrast to Tesla’s 30-minute charging), and Porsche-level horsepower. This week provided insight into the EV landscape as major companies reported sales, indicating intensified competition for Tesla.
China’s BYD saw accelerated sales growth, alongside Geely and Toyota’s hybrids. Rivian’s sales surged as well, but Tesla experienced its first year-on-year sales decline since the pandemic.
