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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By Uma Rajagopal

    Posted on April 1, 2024

    Featured image for article about Top Stories

    Xiaomi’s EV buyers face up to seven-month wait for car, app shows

    By Yelin Mo and Brenda Goh

    BEIJING (Reuters) -Xiaomi is advising would-be buyers of its new SU7 electric sedan that they could face an up to seven-month wait, its app showed on Monday, in a sign that the Chinese electronics maker is enjoying strong demand for its vehicle.

    Xiaomi began allowing consumers to place orders for its SU7 electric vehicle sedan on Thursday, after it announced the prices of the car which started at $29,870. On Friday night, it said pre-orders hit 88,898 in the first 24 hours.

    Checks by Reuters on Xiaomi’s car app on Monday found that the firm is advising that delivery time for the company’s standard SU7 model could take 18-21 weeks, the SU7 Pro model 18-21 weeks, while the most expensive model, priced at 299,900 yuan, will take 27-30 weeks.

    As part of the campaign to kick off sales, Xiaomi also released two other special versions of the car called “Founder’s Edition” that come with complimentary gifts, such as refrigerators. The first batch of 5,000 such cars were sold out immediately after it allowed consumers to place orders on Thursday.

    On Sunday, co-founder and CEO Lei Jun, in a Weibo post said that it would open a second round of sales for the Founder’s Edition, though he didn’t specify the quantum.

    He also said that during the ordering process for the Founder’s Edition, Xiaomi identified and blocked some abnormal orders and those placed by scalpers.

    Xiaomi built a Beijing factory capable of producing 200,000 cars annually before it had regulatory approval to start manufacturing in China. State-owned automaker BAIC Group disclosed in November it would make the cars for Xiaomi – at the same Xiaomi plant.

    (Reporting by Yelin Mo and Brenda Goh; Editing by Muralikumar Anantharaman)

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