If you’re looking to stick it to Elon Musk, Xiaomi wants to help. The Chinese smartphone giant is launching an EV, which it says can accelerate faster than a Tesla, or Porsche’s electric models. We’ll soon find out whether sales accelerate, or if Xiaomi is better off sticking to smartphones.

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Xiaomi starts electric car sales

Just as Apple gives up on its autos ambitions, China’s fifth-biggest smartphone maker is launching an EV. Xiaomi shares soared after the company said it will start deliveries of its first EV, the Speed Ultra 7 sedan, this month. CEO Lei Jun said the SU7 can achieve acceleration speeds faster than Tesla and Porsche’s EVs.

The launch comes as Chinese automakers encroach on US EV dominance. Late last year, BYD overtook Tesla as the top global seller of EVs. The company has set its sights on becoming a major international player, with a focus on Europe.

But BYD is running into challenges in its overseas expansion, according to the WSJ. Issues reportedly include weak market demand, high pricing, and quality control. There has also been internal tension over how quickly the company can take market share, which is only likely to intensify with Xiaomi’s explosive entry. The smartphone giant is investing $10 billion in cars over the next decade.

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