BUZZ-Xiaomi hits near 3-1/2-year peak on report of launch of new EV model in Q1
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Xiaomi's shares rose 6% to HK$85, reaching their highest level since June 2021, amid reports of a new EV model launch in Q1. The stock is the second-biggest gainer in the Hang Seng China Enterprises Index and third in both the Hang Seng Index and Hang Seng Tech Index. Xiaomi plans to launch its second EV model, competing with Tesla's Model Y, and aims to deliver 130,000 EVs this year, marking an 80.5% year-to-date increase in stock value.
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