Xiaomi Corp.’s shares rose 8% to a record high after the smartphone maker drew strong initial orders for a $35,000 sport utility vehicle intended to compete with Tesla Inc.’s Model Y in China. The company on June 26 took the wraps off the 253,

Xiaomi won more orders than expected for its new YU7 electric sports utility vehicle in the first hours after it went on sale, sending the company's shares up 8% to an all-time high. The Chinese EV and smartphone maker on Thursday priced its new electric YU7 SUV from 253,

Xiaomi launches the YU7 SUV, its second electric vehicle with high-performance powertrains across three variants.