Xiaomi’s CEO admitted his SUV wasn’t cheap enough to beat Tesla. Then he launched one that is.

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Most CEOs would not go on stage and admit their product was not competitively priced against a rival. Lei Jun did exactly that on Wednesday evening, and then launched a model that fixes it. At Xiaomi’s “Human x Car x Home” launch event on 21 May, the founder and CEO unveiled the YU7 True Standard […]This story continues at The Next Web