Chinese Tech Billionaire Lei Jun Launches Electric Vehicles At Cheaper Prices Amid Heavy Competition [Forbes]
Li Auto Inc. - American Depositary Shares (LI)
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Source: Forbes
Lei Jun , the cofounder of Chinese smartphone giant Xiaomi, said the company's first electric vehicle, the SU7, will be sold at a starting price of 215,900 yuan ($30,000) during a launch ceremony on Thursday evening that marks the mogul's official entry into China's hotly contested market. The tech tycoon, whose fortune is currently estimated at $12.4 billion on Forbes Real-Time Billionaires list , also unveiled two other models that Xiaomi plans to sell at higher prices. The SU7 Pro, which promises to deliver an extended driving range of 830 kilometers versus the base model's range of 700 kilometers, has been priced at $34,000. And the SU7 Max that's said to rival Porsche's Taycan sportscar in terms of its performance will sell for $41,000. Xiaomi will begin delivering the vehicles towards the end of April, Lei said. “To make a good car, we spared no cost,” said the mogul. The pricing is relatively cheap when taking into account the features that are being offered, according t
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- 4/23/24 - Form 6-K
- 4/18/24 - Form 6-K
- 4/12/24 - Form 6-K
- LI's page on the SEC website