Chinese tech giant, Xiaomi, is to begin selling of its first electric car, the SU7, at the end of this March.
Xiaomi Founder, Lei Jun, made the disclosure on Tuesday.
Xiaomi shares rose in Hong Kong in the news that the electronics and software company was to bring the cars to the market from March 28.
Xiaomi announced three years ago that it was developing electric vehicles.
The SU7, a four-door sedan being manufactured in cooperation with China’s state-owned BAIC vehicle manufacturer, was presented in December.
China is the largest global market for electric cars.
China’s BYD and Tesla of the U.S. are battling for dominance.
Other Chinese manufacturers have also entered the market, with many offering large discounts to gain market share.
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In contrast, the U.S. tech concern, Apple, cancelled its electric car project at the end of February, after years of development.
German carmakers, whose petrol and diesel vehicles have, in the past, been popular in China, found themselves under pressure. (dpa/NAN)
