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Xiaomi's shares surge after first electric SUV gets 289,000 orders in an hour

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Consumers view the Xiaomi YU7Max electric vehicle in the exhibition hall of Xiaomi Group's East China headquarters in Nanjing, Jiangsu Province, China, on June 26, 2025. [AFP]

Chinese electric vehicle maker Xiaomi received almost 300,000 pre-orders within an hour for its first sport utility vehicles in what the company said was a "miraculous" moment for the industry.

Lei Jun, founder and CEO of the electronics-turned-car company, said he was astonished by the reaction from customers.

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