In response to report that Xiaomi Automobile kicked off development work on a new platform, XIAOMI-W (01810.HK) +0.060 (+0.346%) Short selling $480.82M; Ratio 15.607% 's general manager of public relations, Wang Hua, clarified on Weibo that the news was untrue, as quoted by Sina Tech.
According to a report by China Business Network, Xiaomi Automobile started development work on a new platform that will use a powertrain of a supercharged hybrid, and the three planned products are all SUV models, positioned as family cars.
Report cited sources familiar with the matter that the three models benchmark the Li L7, Li L8 and Li L9. On the same platform structure, the wheelbase and number of seats are changed to differentiate the product, but the price range will be lower than the Li products.
In addition, Xiaomi Automobile also announced a pure electric SUV and a pure electric sedan product, with the former benchmarking Tesla's Model Y.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-04-29 16:25.)
