Xiaomi, the Chinese tech giant that recently made its foray into manufacturing battery electric vehicles (BEVs), received nearly 300,000 pre-orders just an hour after launching a new EV. Dubbed the YU7, Xiaomi’s 5-seater electric car is its second mass-market electric car and will cost $54,000 (253,500 yuan), almost 4% cheaper than the best-selling Tesla Model Y.
As more companies enter the BEV space and carve out a market for themselves, there is likely to be an uptick in the adoption of renewable energy to charge these BEVs, and that could trigger a commensurate expansion in the market served by companies like SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2)…
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