The China smartphone giant taking on Tesla

Chinese smartphone maker Xiaomi has launched its first electric vehicle and started taking orders. The move sees the technology giant taking on EV rivals including Tesla and BYD. The starting price in China for Tesla's Model 3 is 245,900 yuan. Xiaomi is the third-largest seller of smartphones worldwide with a market share of about 12%, according to research firm Counterpoint. The SU7, which Xiaomi has been teasing since last year, has drawn comparisons to Porsche's Taycan and Panamera sports car models. "While getting this far is itself quite an achievement, the ultimate achievement would be to demonstrate that there is a consumer market for Xiaomi as a smart EVs brand," Bill Russo of Automobility told the BBC. In an indication of the challenges facing technology firms who want to make electric cars, iPhone maker Apple last month reportedly cancelled its plans to build an EV. Mr Russo added that Xiaomi's entry into the car market reflected its confidence "In the relevancy for their brand" in China while Apple did not see enough potential in the EV market outside of China. The world's biggest car market is already crowded so Xiaomi is one of the few new prospective entrants to gain approval from authorities as officials try to curb a flood of new players. The European Union has launched an investigation into whether Chinese government subsidies have helped the country's electric car makers undercut European-made models.