Chinese electric carmakers Nio and Xpeng are launching affordable brands to target the mass market. Nio's first offering will be an SUV cheaper than Tesla's Model Y, while Xpeng's sub-brand, Mona, will release vehicles priced below $20,700. This move aligns them with rivals BYD and Volkswagen to cater to China's growing demand for affordable electric vehicles.
Xiaomi, the Chinese smartphone giant, has finally announced the official launch date of its much-anticipated electric car: March 28th. The car, called the SU7, was originally unveiled in December, but details on pricing and delivery were kept under wraps. Now, Xiaomi has revealed that the SU7 "will be delivered as soon as it is launched." The company is also targeting the premium segment with the car, and deliveries could begin as soon as the second quarter of this year.
