Xiaomi's stock market value increases by $7.6 billion after the launch of its SU7 sedan, making the tech company worth more than GM or Ford. Despite analysts' predictions of losses on each car, Xiaomi's decision to expand into smart cars seems to be paying off.
Xiaomi stock surges by $7.6 billion. Tech company now valued at $55.2 billion, versus $52.4 bn for Ford . SU7 costs less than $30k but analysts say Xiaomi will lose $9,400 on each car. Apple’s iCar project is dead, but over in China, Xiaomi execs must be delighted with their decision to branch out from smartphones to smart cars . The firm is now worth more than GM or Ford , thanks to an uplift provided by the arrival of its SU7 sedan.
Xiaomi’s SU7 is a Porsche Taycan-sized electric sedan that costs less than a Tesla Model 3. When the stock market opened after the car’s launch, the price of the company's shares jumped, adding $7.6 billion to Xiaomi’s valuation. The Chinese tech giant is now worth $55.2 billion, Reuters reports, compared with $52.4 billion for Ford and $53.1 billion for GM. All three are still miles behind Tesla though, which is valued at an astronomical $549 billio
Xiaomi Stock Market Valuation Smart Cars SU7 Sedan GM Ford Tesla
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