China's Xiaomi to Launch First SUV as Shares Near Record High
The unveiling of Xiaomi Corp. 's first electric SUV on Thursday will showcase how the Chinese tech company has become an investor darling with its high-stakes bet on the auto market.
Shares of the firm founded by billionaire Lei Jun are within striking distance of a fresh record in Hong Kong after a 64% surge this year. Now valued at $187 billion, Xiaomi is worth more than Chinese EV leader BYD Co. as it grows its footprint in the world's largest car market.
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