Electric Vehicle

Xiaomi’s investment partner, Pan Jiutang, commented on the company’s entry into the EV market. He believes Xiaomi’s presence benefits the industry by driving competition and focusing on consumer needs. Jiutang emphasized their premium electric vehicle strategy, targeting a large market. His comments respond to predictions of Xiaomi’s rapid growth potentially impacting competitors, with significant sales growth expected in the coming years.

Amidst China’s EV price war, automaker executives debate the price-value relationship. GAC emphasizes customer experience and lifecycle cost. BJEV’s chairman stresses profitability challenges, warning against prioritizing short-term gains over quality, safety, and long-term sustainable growth. He critiques unsustainable practices, advocating for innovation, high-end markets, and ethical business conduct, emphasizing customer trust as vital for the industry’s future.

Elektros Inc. (OTC PINK: ELEK) saw its stock price surge 344% following a potentially significant lithium discovery in Sierra Leone. The company’s exploration targets a West African lithium deposit amid growing demand for the mineral in the EV and renewable energy sectors. CEO Shlomo Bleier highlighted the discovery’s strategic importance, positioning Elektros Inc. for future growth. The company focuses on sustainable energy solutions, aiming to meet increasing global demand for lithium.

Xiaomi Auto announced its YU7 electric vehicle will launch in July, with display models arriving at nationwide showrooms in coming weeks. The company refuted rumors of a 199,000 yuan starting price during a May 22 preview, though final pricing remains unconfirmed. Prospective buyers are directed to Xiaomi’s dedicated app for updates. The phased rollout follows a cautious market-entry strategy, avoiding reservations amid China’s competitive EV sector. Analysts note the July timing leverages summer sales cycles while sidestepping rival automakers’ Q2 earnings releases. Centralized coordination of regional deployments aligns with dealer reports anticipating late-May showroom preparations pending approvals.