Xiaomi shares at all-time high on new details of second EV

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Xiaomi’s shares rose 8.5% to a record high of HK$48 ($6.2) in Hong Kong on Tuesday. The refreshed crossover boasts a driving range of up to 719 km and will be delivered at the end of this month, earlier than the original target of March. The dual-motor, all-wheel-drive models will have a 101.7-kWh battery pack enabling over 760 km of range. MIIT, China’s top industry authority, regularly issues lists of new energy vehicle (NEV) models exempted from its purchase tax. NIO’s first small EV, the Firefly, will carry a 42.1-kWh battery pack enabling over 420 km of range.