币界网报道：Xiaomi shares surged nearly 8% after the Chinese tech giant announced receiving over 28,900 orders for its first electric vehicle, the SU7 sedan, within just 24 hours of launch. The company revealed the SU7's pricing starts at 215,900 yuan ($29,870), undercutting Tesla's Model 3 in China by about 30,000 yuan. Xiaomi CEO Lei Jun stated the SU7 aims to become "the best-looking, easiest to drive, and smartest car" under 500,000 yuan, featuring a 700-kilometer range and advanced autonomous driving capabilities. The strong initial demand comes despite China's slowing EV market growth, with Xiaomi entering an increasingly competitive sector dominated by Tesla and BYD. Analysts note Xiaomi's existing ecosystem of connected devices could give it an edge in smart vehicle integration. The company plans to deliver the first SU7 vehicles by end of April, with production capacity reportedly sufficient to meet current orders.