Chinese company Xiaomi releases first electric vehicle @HACKSNCRAKS 🚙

The Chinese electronics manufacturer Xiaomi released their first electric vehicle in China on Thursday, and began taking orders for the car via an app.

The company's first EV is called SU7 and is a sporty four-door sedan. The price of the vehicle is estimated by analysts at 300,000 yuan (€37,000, $40,000)

The low price should help to compete with the competition from overseas. Government subsides helped China to become the world's largest market for electric vehicles, with sales remaining mainly domestic.

Xiaomi plans on being in the top five worldwide automakers in the next 15 to 20 years. #MI

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