omaharules| Will Xiaomi's second car be released? The company's share price rose by more than 3%

Financial Associated Press, May 14 (Editor Hu Jiarong) from Xiaomi GroupOmaharulesSince the SU7 went on sale, the market has continued to talk about it. However, according to related reports, it is planned to start producing and selling a SUV similar to Tesla's Model Y as soon as 2025.

Xiaomi Group's shares rose again today, buoyed by the news. Up 3% as of press release.Omaharules.10%, at 19Omaharules.96 Hong Kong dollars

NoteOmaharulesThe performance of Xiaomi Group

Xiaomi, a technology giant that started with smartphones, is accelerating its expansion in electric vehicles, according to reports. According to the latest news, Xiaomi plans to launch a SUV model comparable to Tesla Model Y as soon as 2025.

According to sources close to Xiaomi, the company's first electric car, the SU7, is expected to produce about 100000 cars a year. At present, Xiaomi is trying to raise its initial capacity ceiling to meet the growing market demand. In the process of developing the SUV, Xiaomi used Tesla's SUV model as an important reference, although the specific specifications and pricing of the SUV have not yet been made public.

The source also said that Xiaomi's electric car business is led by co-founder Lei Jun, which he sees as his last major start-up project strategic decision. Xiaomi has been actively laying out since it announced its entry into the electric vehicle field in 2021, and although the initial discussion focused on the launch of the SUV model, Xiaomi finally chose to give priority to the development of the SU7 sedan.

At present, Xiaomi has a factory capacity of less than 10000 vehicles a month, which limits the rapid mass production of SUV models. As a result, mass production of the SUV model is expected to be delayed until the end of 2025.

In addition, according to current data from companiesmarketcap, Xiaomi Group has become the 11th largest automaker in the world, followed by Honda, General Motors and Ford.

Note: the ranking of companiesmarketcap

The organization is optimistic about Xiaomi electric car business.

In fact, as Xiaomi SU7 continues to have a high fever, there has been a change in the agency's view of Xiaomi's auto business. At first, the market took a wait-and-see attitude towards Xiaomi's entry into the field of electric vehicles, but with the development of Xiaomi's electric car business and the launch of its first model, the SU7, the agency began to take a more positive attitude towards Xiaomi's car business.

Morgan Stanley analyst Andy Meng and others said in a report that they raised Xiaomi's Hong Kong stock price target to HK $20 from HK $17.50 and listed Xiaomi as its preferred recommendation. The adjustment is based on an increase in the valuation of Xiaomi's electric car business from 90 billion yuan to 110 billion yuan, as well as the synergy between smartphones and artificial intelligence Internet of things.

At the same time, Citibank pointed out in its report that the investors interviewed generally believed that the initial order volume and market feedback of Xiaomi SU7 electric car were better than expected. Citigroup maintains its buy rating on Xiaomi and sets a target price of HK $19.6. This shows that the market is optimistic about the future of Xiaomi's auto business and has positive expectations for its future market performance and stock price.