Chinese electronics giant Xiaomi Corp reported a 30.5% increase in third-quarter revenue, driven by strong demand for its first electric vehicle, the SU7 sedan. Known for its smartphones and consumer electronics, Xiaomi launched the car in March, entering China’s competitive EV market with a strikingly affordable price—starting at under $30,000 for the base model, which is around $4,000 less than the base price of Tesla Inc.’s Model 3 in the country. The SU7, which has the same driving range as
