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Tesla Rival Xiaomi Sets Production Records as Chinese Challenge Accelerates

Xiaomi, a Chinese EV maker, celebrated its 500,000th vehicle production milestone in just over 19 months, a record for new energy vehicle makers. Despite this, Xiaomi's shares fell over 4%. The achievement highlights Xiaomi's rapid production scaling and growing market presence, posing a challenge to U.S. rivals like Tesla. Xiaomi plans to boost production and enhance AI integration in manufacturing. In Q3, Xiaomi Auto delivered 108,796 vehicles, up from previous quarters.

Tip Ranks·
SG
HXXD
+1.26%
HK
01810
+1.01%
US
XIACY
+2.71%
Tip Ranks·
SG
HXXD
+1.26%
HK
01810
+1.01%
US
XIACY
+2.71%

Lithium prices plunge in China after moves to curb speculative trading

Lithium prices in China fell sharply after the Guangzhou Futures Exchange curbed speculative trading and CATL planned to restart production at its lithium mine. The most-active lithium carbonate contract dropped 9% to 91,020 yuan per metric ton. GFEX increased transaction fees and limited daily open positions for non-futures company members. CATL's Jianxiawo mine, which can produce 46,000 tons of lithium carbonate annually, is set to resume production after a suspension since August.

Reuters·
SZ
300750
-2.48%
HK
03750
-3.73%
Reuters·
SZ
300750
-2.48%
HK
03750
-3.73%

Midea Showcases Sustainable HVAC Innovations at C&R 2025 in Madrid

Midea Group Co. Ltd. showcased sustainable HVAC innovations at C&R 2025 in Madrid, highlighting products like the R290 series and ECOMASTER system. The event emphasized energy efficiency and intelligent climate control. Midea also engaged professionals through workshops and promoted sponsorships with Manchester City and Sevilla FC, demonstrating commitment to community engagement and excellence.

Reuters·
HK
00300
-0.80%
SZ
000333
+1.04%
Reuters·
HK
00300
-0.80%
SZ
000333
+1.04%