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

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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