Xiaomi to consider selling cars outside China from 2027, CEO says
The company has to focus on its domestic market in the meantime given robust orders for its SU7 and YU7 cars, he said.
Xiaomi had earlier mentioned 2027 as the first year for potential overseas shipments of its EVs.
The electric
SU7 sedan
has outsold Tesla's Model 3 on a monthly basis since December and the YU7 sports utility vehicle received robust orders in the first 18 hours after it went on sale last Thursday.
Xiaomi was telling YU7 customers that they will have to wait more than a year to pick up their cars, sparking a fresh wave of complaints against the company, Reuters reported on Monday.
Many commentators asked about the long waiting times and production ramp-up during the livestream, but Lei offered no clues.
"We'll strive to ramp up capacity," Lei said, without elaborating.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
an hour ago
- India.com
US launches new AIM-260 missile to counter Chinese PL-17, India betting on Russian R-37, who will win the race?
(REUTERS/File) New Delhi: The use of Chinese PL-15 air to air missile was seen in the recent India-Pakistan conflict. According to reports, China is currently working on PL-17 and PL-21 air to air missiles, whose capability will be much more than PL-15. At the same time, America has started working on AIM-260 to counter this power of China while India has decided to bet on Russian R-37. The main purpose of these missiles is to destroy the enemy's Airborne Early Warning System (AEW&C) aircraft, tanker aircraft and stealth fighter planes from a very long distance. What is AIM-260 missile? The US Navy and Air Force have sought about $670.5 million in purchase funding and $687 million in research and development funding for the AIM-260 air-to-air missile in the 2026 budget proposal. This will be the next variant of the AIM-120 AMRAAM missile. According to reports, the AIM-260 will include a ramjet or dual-pulse rocket motor, multi-mode seeker (infrared + active radar), two-way data link and electronic warfare resistant system, which will make it highly lethal and modern. The report said that it will first be used in America's F-22 Raptor fighter aircraft, but in future it will also be integrated into fighter aircraft like F-35 and F-15EX. The main purpose of AIM-260 is to develop the ability to attack from a longer distance against China's PL series missiles like PL-15, PL-17 and PL-21. AIM-260 vs PL-17 Missiles. When was AIM-260 conceptualised? It is claimed that with the double-seeker design, both the missile's accuracy and resistance to electronic warfare will be greatly enhanced. In addition, it will make it easier to target targets stealthily with a reduced radar footprint. That is, the US is preparing to integrate it into its stealth fighter aircraft. In February 2025, the US Navy publicly revealed the rendering of the next-generation long-range AIM-260, which gave many details about the external and guidance sections of the missile. Where does PL series stand? On the other hand, after the PL-15, China has now focused on extremely long-range air-to-air missiles like the PL-17 and PL-21. The PL-17 has been seen on the J-17 fighter jet and its range is believed to be around 400 kilometers, which is more than any current US missile. The guidance system of PL-17 includes inertial navigation, satellite guidance, data link and active radar seeker in the terminal phase. This missile has the capability to shoot down enemy AEW&C platforms like Boeing E-3D or Wedgetail without coming face to face. Recently, China had given PL-15 missiles to Pakistan, which it used against India. After this conflict, the demand for air to air missiles has increased further in the world. China's People's Liberation Army (PLA) is developing very long range air to air missiles (VLRAAM) which can attack targets from a long distance. What about India? Russia is not behind in this ongoing race between China and America. Russia's R-37M missile already has the capability to strike from 150 to 400 km. This is also a BVR i.e. Beyond Visual Range missile. Russia designed this missile primarily for the MiG-31 interceptor, but now it is also being installed in aircraft like Su-30SM, Su-35S and Su-57. R-37M has advanced technologies like dual-pulse rocket motor, mid-course targeting update and dual-band radar seeker. By using it in the Ukraine war, Russia has been very successful in keeping Ukrainian fighters away from the battlefield. The Eurasian Times report says that India is talking to Russia to buy R-37M air to air missile. Russia has proposed to India to produce this missile in India itself under Make in India. At present the talks are going on. The report says that India will integrate it in its SU-30MKI fighter aircraft.
Time of India
2 hours ago
- Time of India
Donald Trump's Tax Bill: Who won and who lost
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Business investors and wealthy Americans are among the biggest winners in President Donald Trump 's 'Big, Beautiful' bill. Those hit the hardest by the sweeping package include elite universities, who face new levies, and immigrants Here's who won and who lost in the legislative centerpiece of the president's domestic agenda:Bill includes estimated $4.5T worth of tax cuts; estate tax exemption rises to $15M for individuals--$30B for married couples; 2017 Trump income tax cuts become permanent, favoring wealthyState and local tax deduction cap raised to $40K annually for five years, then reverts to $10K2017 law that allowed 20% pass-through income deduction for sole proprietorships, LLCs, partnerships permanently extended from 2026Carried interest tax break survives; interest expense deductions expanded for private equityUp to $10K a year in USmade car loan interest deductible through 2028, with income-based phase-outBonus depreciation for the cost of production upgrades and a R&D tax break made permanentIndustries win tax breaks and new requirements to open up more federal land for drilling; clean energy breaks phased outLarger standard deduction for seniors; tips and overtime pay exempted from income taxes. Provisions include limits to shrink cost and expire after 2028Max child tax credit rises by $200 starting 2025, permanently indexed to inflation; 'Trump accounts' for newborns seeded with $1,000 through 2028Large swaths of spectrum auctioned, benefiting the likes of Starlink as well as 5G and future 6G network developmentProposed tax hikes that would have hit big business largely rejected$150B boost to defence spending, funding new weapons systems and military contractsNearly $10B in funding for Moon, Mars missions, and ISS decommissioningCuts to Medicaid and food stamps; new work requirements for some Medicaid recipients and cost-sharing imposedClean energy industries hit; a tax credit for solar panels and wind systems is quickly phased out; efficiency and home installation credits eliminated by year-endOnly 90% of gambling losses deductible, possibly creating taxes on net lossesStates retain power to regulate AI, a setback for large tech firms and investors.1% tax on remittances; some lose access to health coverage tax creditsEndowment income tax climbs to 8% for top private colleges with large funds$7,500 consumer tax credit for buying EVs eliminated, hitting the likes of Tesla and GM
&w=3840&q=100)
First Post
2 hours ago
- First Post
Trump to sign sweeping tax and spending cuts bill at July 4 White House ceremony
Trump is expected to sign the bill around 5 pm ET during a White House event celebrating the July 4 Independence Day holiday read more President Donald Trump is set to sign a sweeping tax and spending cuts package into law at a White House ceremony on Friday, following its narrow approval by the Republican-controlled House of Representatives. The legislation, which aims to fund Trump's immigration crackdown and make his 2017 tax cuts permanent, was passed by a tight 218-214 vote after a heated debate on the House floor. Critics warn the bill could cause millions of Americans to lose health insurance coverage. STORY CONTINUES BELOW THIS AD Trump is expected to sign the bill around 5 pm ET during a White House event celebrating the July 4 Independence Day holiday. The ceremony will reportedly feature a flyover by stealth bombers and fighter jets that participated in recent US strikes on Iranian nuclear facilities. The bill's passage marks a significant victory for Trump and his Republican allies, who argue that the legislation will stimulate economic growth. However, a nonpartisan analysis projects that it will add $3.4 trillion to the nation's $36.2 trillion debt, reported Reuters. Vice President JD Vance, who cast the tie-breaking vote to help the bill clear the Senate, said on Friday that the legislation supports Trump's goal of encouraging investment within the United States while discouraging investment abroad. 'We're going to look back on this, I really do think, as the beginning of the golden age of the United States of America,' Reuters quoted Vance as telling reporters during a visit to North Dakota. While some lawmakers in Trump's party expressed concerns over the bill's price tag and its hit to healthcare programs, in the end just two of the House's 220 Republicans voted against it, joining all 212 Democrats in opposition. The tense standoff over the bill included a record-long floor speech by House Democratic Leader Hakeem Jeffries, who spoke for eight hours and 46 minutes, blasting the bill as a giveaway to the wealthy that would strip low-income Americans of federally-backed health insurance and food aid benefits. With inputs from agencies
