Gold bars to be exempt from tariffs, White House clarifies
Investing.com-- Xiaomi (OTC:XIACF) Corp’s (HK:1810) shares fell on Thursday as CEO Lei Jun announced that the company’s new electric SUV, the YU7, is expected to enter the market in July.
In a Weibo (NASDAQ:WB) post, Lei Jun stated that Xiaomi will not disclose the official prices for the YU7, nor commence taking pre-orders at this time.
The lack of pricing details and pre-order information left investors guessing about the company’s EV rollout strategy.
Xiaomi’s Hong Kong-listed shares fell as much as 3% to HK$52.85 by midday trading.
The YU7, positioned as a competitor to Tesla’s (NASDAQ:TSLA) Model Y, is part of Xiaomi’s broader push into the electric vehicle market, following the launch of its SU7 sedan earlier this year.