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China tech giant Xiaomi starts electric car sales

The launch comes as a cut-throat price war intensifies in the world's biggest car market.

Chinese technology giant Xiaomi says it will start deliveries of its first electric vehicle (EV) this month - its first ever foray into the competitive automotive industry. At the unveiling of the Speed Ultra 7 (SU7) last year, Xiaomi's chief executive Lei Jun said the company aims to become one of the top five car makers in the world. Tesla, which is headed by multi-billionaire Elon Musk, has cut the cost of its cars in China by thousands of dollars in recent months as local rivals like BYD have slashed its prices.

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