Tesla Competitor Xiaomi Launches Model Y Killer Amid Market Pressure
Xiaomi, a major rival of Tesla in China, officially rolled out its new electric vehicle, dubbed the 'Model Y Killer,' on Thursday. The launch was met with remarkable demand, as over 200,000 orders were received within the first three minutes of availability. This surge in interest adds additional pressure on Tesla in the competitive Chinese EV market. Meanwhile, Hesai Group, a leader in autonomous robotaxi services, jumped nearly 20% on the same day.
Tesla also announced a limited robotaxi ride-hailing service, signaling ongoing innovation and competition in the EV and autonomous vehicle sectors. Market analysts are closely watching these developments as they could influence future stock performances and industry dynamics.
