China smartphone maker Xiaomi unveils first electric vehicle

BEIJING (Reuters) – China’s Xiaomi (OTC:) took the wraps off its first electric vehicle on Thursday – a highly anticipated model that is expected to make the most of its shared operating system with the company’s popular smartphones.

But the sedan, dubbed the SU7, will make its debut at a time when the world’s largest auto market is wrestling with a capacity glut and slowing demand that have stoked a bruising price war.

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