Shares in Xiaomi opened at HK$29.6, edging down 0.54 per cent from the previous close as the Beijing tech titan goes head-to-head with Tesla.

New variants sharpen its challenge to Tesla while testing its ability to scale production and move upmarket.

Flagship YU7 SUV pricing intensifies competition with Tesla in China

Shares in Xiaomi opened at HK$29.6, edging down 0.54 per cent from the previous close as the Beijing tech titan goes head-to-head with Tesla.