China's Xiaomi Raises Target for Marquee EV

The tech company, but we brought him and talk about this Evie 120,000. Obviously that's not a confidence from the company. But is this a pretty ambitious target you think? Yeah, I mean it's, it shows healthy demand really for its new first foray into the electric vehicle industry, this SU-7 sedan in fact. And so yeah, going from a bump from initially 100,000 and which again not that long ago launched, this is a a good sign for them that they are building on momentum. And and again, when they have gone from making just smartphones and which they still are to making also electric cars, the fact that they can get to that level of 100,000 as we have spoken on this show so many times. To a level of 100,000 and where many other Chinese EV upstarts have really struggled over a multi year period. So it's a good sign for them, especially as they try to take on Tesla in the long run and it has big ambitions in this space. What's special about it? It's a cool looking car. It's a cool looking car, cool looking. You make a very good point, right. They're coming in in a very competitive car market and you know, I think they're one of the very few that have raised guidance on what they're, they think they'll be able to deliver. Yeah, I mean still we're talking about very small numbers in an ultra competitive space. Again, their price competitively and even when you look at its earnings, no overall this is still not necessarily feeding in a big way into the overall picture. Whilst revenue growth is at its fastest in two years, that's still net that net income line did still drop year on year. So it's still baby steps. But the fact that there's this pipeline in future with an SUV coming into play that's going to rival testers Model Y and and so they know there is there is encouraging kind of signs from them that they feel more confident to raise that that delivery guidance and potentially. What that means for production as well-being a little bit higher going forward?

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