China's Xiaomi raises $5.5b in share sale as EV plans speed up

China's Xiaomi raises $5.5b in share sale as EV plans speed up

FILE PHOTO: Xiaomi's new EV sedan SU7 Ultra is displayed during a launch event in Beijing, China February 27, 2025. REUTERS/Tingshu Wang/File Photo

China’s Xiaomi Corp said on Tuesday it had raised $5.5 billion in an upsized share sale as the company pushes forward with its ambitious electric vehicle manufacturing plans.

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