SHANGHAI (Reuters) -Hong Kong-listed shares of Xiaomi opened up 8% on Friday, after the launch of a new electric car model. The shares were up roughly 5% in early trading, after the Chinese EV and smartphone maker on Thursday priced its new electric YU7 SUV from 253,

The unveiling of Xiaomi Corp.’s first electric SUV on Thursday will showcase how the Chinese tech company has become an investor darling with its high-stakes bet on the auto market.

Shares of the firm founded by billionaire Lei Jun are within striking distance of a fresh record in Hong Kong after a 64 per cent surge in 2025. Now valued at US$187 billion ($239 billion), Xiaomi is worth more than Chinese EV leader BYD as it grows its footprint in the world’s largest car market.