China’s smartphone maker Xiaomi unveils EVs even as Apple pivots

News Snapshot:

A month after the maker of the iPhone abandoned its decade-long project to build an Apple Car, its rival as the world’s third-largest smartphone maker has begun an audacious attempt to become a top-five auto manufacturer, with the debut of its first electric vehicle. China’s Xiaomi heralded its greater ambition in EVs with a launch event in Beijing on Thursday night for its Speed Ultra 7 sports sedan, announcing a competitive starting price of Rmb215,900 (€27,686) and availability in its stores across the country from this week. That compares with the Rmb237,900 price tag of Tesla’s Model 3 standard version....