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Xiaomi’s entry into the electric car market comes as a price war has been intensifying.
BBC HomepageSkip to contentAccessibility HelpYour accountNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityBusinessMarket DataEconomyYour MoneyCompaniesTechnology of BusinessCEO SecretsArtificial IntelligenceXiaomi: the Chinese smartphone giant taking on TeslaPublished13 minutes agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesImage caption, The SU7 is technology giant Xiaomi’s first electric carBy Mariko OiBusiness reporterChinese smartphone maker Xiaomi is set to launch its first electric vehicle (EV) and begin taking orders on Thursday.Its chief executive Lei Jun said this week that the Speed Ultra 7 (SU7) would be priced below 500,000 yuan ($69,186; £54,836).The move will see the technology giant taking on rivals like Tesla and BYD.Xiaomi’s entry into the electric car market comes as sales growth has slowed globally, triggering a price war.The firm is hoping that the SU7’s shared operating system with its phones, laptops and other devices will appeal to existing customers.Xiaomi is the third-largest seller of smartphones worldwide with a market share of about 12%, according to research firm Counterpoint.The SU7, which Xiaomi has been teasing since last year, has drawn comparisons to Porsche’s Taycan and Panamera sports car models.It will be made by a unit of state-owned car manufacturer BAIC Group at a plant in Beijing that can produce as many as 200,000 vehicles a year.”While getting this far is itself quite an achievement, the ultimate achievement would be to demonstrate that there is a consumer market for Xiaomi as a smart EVs brand,” Bill Russo of Automobility told the BBC.In an indication of the challenges facing technology firms who want to make electric cars, iPhone maker Apple last month reportedly cancelled its plans to build an EV.Mr Russo added that Xiaomi’s entry into the car market reflects its confidence “in the relevancy for their brand” in China while Apple did not see enough potential in the EV market outside of China.Xiaomi has said it will invest $10bn (£7.9bn) in its vehicles business over the next 10 years.”The Chinese EV market is very mature and creates a very stable ecosystem for the EV manufacturers,” said Abhishek Murali from research firm Rystad Energy. “For example, the battery supply chain is very strong, and the charging network in the country is also growing to meet the growing EV feed.” The launch of Xiaomi’s first car comes as a price war in China’s EV market has been intensifying.Tesla, which is headed by multi-billionaire Elon Musk, has cut the cost of its cars in China by thousands of dollars in recent months as local rivals like the world’s top-selling EV maker BYD have slashed prices.The world’s biggest car market is already crowded so Xiaomi is one of the few new prospective entrants to gain approval from authorities as officials try to curb a flood of new players.Earlier this week, BYD posted record annual profits but said growth had slowed towards the end of last year.Shanghai-based electric car maker Nio on Wednesday lowered its forecast for first quarter deliveries as consumers tightened spending as China’s economic growth weakens.American EV giant Tesla is due to announce its delivery numbers for the first three months of 2024 next week.At the same time, governments around the world are pushing back against imports of foreign-made EVs.On Tuesday, Beijing initiated dispute settlement proceedings against the US at the World Trade Organization to contest “discriminatory subsidies” under the US Inflation Reduction Act.Meanwhile, the European Union has launched an investigation into whether Chinese government subsidies have helped the country’s electric car makers undercut European-made models.Related TopicsInternational BusinessXiaomiElectric carsChina economyTop StoriesDivers recover bodies in Baltimore bridge collapse watersPublished4 hours agoPupil behaviour getting worse, say teachersPublished3 hours agoKing sends ‘hand of friendship’ recorded messagePublished5 hours agoFeaturesThe Papers: Sewage ‘outrage’ and ‘King calls for kindness’ The families borrowing to pay for careFather of three among Baltimore bridge victimsUS guns pour into Haiti, fuelling surge in violenceBill Nighy on playing an England manager with a differenceI’m not ashamed of who I am any more, says LionessWhy some Tory MPs are stepping downLost IRA film shows planting and detonation of bombAfter Moscow attack, migrants from Central Asia hit by backlashElsewhere on the BBCDid The Terminator predict the future correctly?!Beth Singler explores the creation and enduring influence of the film, 40 years after its releaseAttributionSoundsBlowing the lid on a baffling online scamPolly 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BBC HomepageSkip to contentAccessibility HelpYour accountNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityWorldAfricaAsiaAustraliaEuropeLatin AmericaMiddle EastUS & CanadaCould you be a fair juror for Trump? We asked New YorkersThis video can not be playedTo play this video you need to enable JavaScript in your browser.Could you be a fair juror for Trump? We asked New YorkersCloseJury selection is under way in Donald Trump’s New York City hush-money trial, with hundreds of people selected as potential jurors.They must answer a questionnaire to determine, among other things, if they can be impartial about the former president.The BBC asked some of those questions to Manhattan residents.SubsectionUS & CanadaPublished50 minutes agoShareclose panelShare pageCopy linkAbout sharingRead descriptionExplore moreCould you be a fair juror for Trump? We asked New Yorkers. Video, 00:02:16Could you be a fair juror for Trump? We asked New YorkersSubsectionUS & CanadaPublished50 minutes ago2:16Up Next. A view from inside court for Trump’s blockbuster trial. Video, 00:01:15A view from inside court for Trump’s blockbuster trialSubsectionUS & CanadaPublished19 hours agoUp Next1:15Press, police and protesters: Outside Trump courthouse. Video, 00:01:12Press, police and protesters: Outside Trump courthouseSubsectionUS & CanadaPublished1 day ago1:12Trump’s ‘perp walk’ moment explained in 60 seconds. Video, 00:01:00Trump’s ‘perp walk’ moment explained in 60 secondsSubsectionUS & CanadaPublished31 March 20231:00Editor’s recommendationsCopenhagen stock exchange engulfed by huge fire. Video, 00:01:03Copenhagen stock exchange engulfed by huge fireSubsectionEuropePublished12 hours ago1:03Moment spire collapses at Copenhagen stock exchange. Video, 00:00:43Moment spire collapses at Copenhagen stock exchangeSubsectionEuropePublished11 hours ago0:43Dormice ladders built in the Forest of Dean. Video, 00:00:51Dormice ladders built in the Forest of DeanSubsectionGloucestershirePublished1 day ago0:51Liz Truss: The world was safer under Trump. Video, 00:00:35Liz Truss: The world was safer under TrumpSubsectionUK PoliticsPublished22 hours ago0:35Huge fires blaze along Miami highway. Video, 00:00:33Huge fires blaze along Miami highwaySubsectionUS & CanadaPublished12 hours ago0:33Watch: Georgia opposition leader punches MP during debate. Video, 00:00:34Watch: Georgia opposition leader punches MP during debateSubsectionEuropePublished21 hours ago0:34Wheelie bins fly and a caravan overturns in strong wind. Video, 00:00:24Wheelie bins fly and a caravan overturns in strong windSubsectionStoke & StaffordshirePublished1 day ago0:24Hannah Waddingham calls out demanding paparazzi. Video, 00:00:28Hannah Waddingham calls out demanding paparazziSubsectionEntertainment & ArtsPublished1 day ago0:28Endangered California condor chicks hatched in LA. Video, 00:01:28Endangered California condor chicks hatched in LASubsectionUS & CanadaPublished1 day ago1:28
[ad_1] Jury selection is under way in Donald Trump’s New York City hush-money trial, with hundreds of people selected as potential jurors. They must answer a questionnaire to determine, among…
BBC HomepageSkip to contentAccessibility HelpYour accountNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityUKEnglandN. IrelandScotlandAlbaWalesCymruIsle of ManGuernseyJerseyLocal NewsFirst product of Meghan’s lifestyle brand revealedPublished11 minutes agoShareclose panelShare pageCopy linkAbout sharingImage source, ReutersImage caption, Meghan pictured at a polo match in Florida last weekBy Sean CoughlanRoyal correspondentA first glimpse of the new business venture from the Duchess of Sussex has been teased on social media, with pictures of a jar of strawberry jam.In a bid to preserve a sense of mystery, the jam from the new American Riviera Orchard brand seemed to be spread among friends and influencers.Fashion designer Tracy Robbins posted a picture of the jam on Instagram.It was numbered “17 of 50”, suggesting the number of recipients of this first fruit of the new business.The arrival of Meghan’s new California-based lifestyle brand had been signalled on social media last month and this suggests that it will be selling food products.What do we know about Meghan’s new brand?Five things about Harry and Meghan’s brand revampWhy did Harry and Meghan leave the Royal Family?There seemed to be have been something of a re-launch for Meghan and husband Prince Harry’s brands and businesses this year, beginning with the overhaul of their regal-looking website under the sussex.com label.Their latest projects seem to be moving away from a previous focus on their time as working royals, such as their Netflix film Harry and Meghan and Prince Harry’s memoir Spare.The hint about the strawberry jam from Meghan’s American Riviera Orchard brand seems to fit with the couple’s latest Netflix plans.Meghan is going to launch a Netflix show which will “celebrate the joys of cooking and gardening, entertaining, and friendship”.Prince Harry will be involved in another Netflix venture showing the inside track on the world of polo. That’s the equestrian sport, not the mints.Delfina Blaquier, married to Prince Harry’s polo-playing friend Nacho Figueras, also posted a picture of the new jam, with hers labelled “10 of 50”.The social media trail for American Riviera Orchard evokes a sense of the couple’s home in California – and this soft launch for the jam show pictures of the jars in a sunny basket of lemons.It’s not known how much items from the new lifestyle brand will cost. Although there are already plenty of other royals getting into jams. Visitors to the gift shops in royal palaces can get a Buckingham Palace Strawberry Preserve for £3.95 or Windsor Castle Fine Cut Seville Orange Marmalade, also for £3.95.On both sides of the Atlantic they seem to be conserving their finances.Related TopicsUK Royal FamilyMeghan, Duchess of SussexMore on this storyWhat we know about Meghan’s regal lifestyle brandPublished16 MarchMeghan launches surprise new lifestyle brandPublished14 MarchTop StoriesMPs back smoking ban for those born after 2009Published8 minutes agoMuslim student loses school prayer ban challengePublished2 hours agoBowen: Iran’s attack on Israel offers Netanyahu a lifelinePublished7 hours agoFeaturesJeremy Bowen: Iran’s attack on Israel offers Netanyahu a lifelineIranians on edge as leaders say ‘Tel Aviv is our battleground’A really, really big election with nearly a billion votersWhat is the smoking ban and how will it work?Martin Tyler: I nearly lost my voice foreverWho are the millions of Britons not working?How to register to vote for the local elections ahead of midnight deadlinePlaying Coachella after cancer emotional, says DJHow the Alec Baldwin fatal film set shooting unfoldedElsewhere on the BBCFrom weight loss to prolonging lifeIs intermittent fasting actually good for you? James Gallagher investigatesAttributionSoundsCould Nina shake up the unspoken rules of modern dating?Brand new comedy about love, friendship and being your own selfAttributioniPlayerWill the UK introduce tough anti-tobacco laws?Under new plans, anyone turning 15 from this year would be banned from buying cigarettesAttributionSoundsCan William Wisting find the truth?The Norwegian detective returns, tackling more grisly cold casesAttributioniPlayerMost Read1Nursery boss ‘killed baby she strapped to beanbag’2Birmingham Airport flights disrupted by incident3Muslim student loses school prayer ban challenge4First product of Meghan’s lifestyle brand revealed5MPs back smoking ban for those born after 20096Police told to shut down right-wing Brussels conference7Historic Copenhagen stock exchange goes up in flames8Bowen: Iran’s attack on Israel offers Netanyahu a lifeline9Marten a ‘lioness’ who ‘loved her cubs’, court told10Sons of McCartney and Lennon release joint single
[ad_1] The jars of strawberry jam, labelled America Riviera Orchard, have been shared with friends and influencers.