Xiaomi has ventured into the competitive electric car market with its new SU7 sedan, priced at 215,900 RMB ($34,016), challenging Tesla’s Model 3 in China. The company received an impressive 50,000 orders within the first 27 minutes of sales opening, reflecting the strong demand in China’s electric vehicle sector, largely driven by government subsidies. Xiaomi aims to integrate its cars with its existing ecosystem of smartphones and home appliances, leveraging its brand recognition and customer base.