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Xiaomi invested $1.4b in first EV, founder says
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Xiaomi invested $1.4b in first EV, founder says

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Xiaomi founder Lei Jun revealed that the company had invested over US$1.4 billion in the development of SU7, its first electric vehicle.

Lei expressed confidence in the EV’s competitiveness with more established brands, drawing on Xiaomi’s success in the smartphone industry. However, he also noted concerns over demand outpacing production capabilities.

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