China’s latest EV is a ‘connected’ car from smart phone and electronics maker Xiaomi WSB-TV Channel 2 [Video]

BEIJING — (AP) — Xiaomi, a well-known maker of smart consumer electronics in China, is joining the country’s booming but crowded market for electric cars with a sporty high-tech sedan.

The tech company began accepting orders in China via an app on Thursday night, after founder Lei Jun wrapped up a more than two-hour presentation on the SU7 car by announcing the much-awaited price range: 215,900 yuan to 299,900 yuan (about $30,000 to $40,000).

Xiaomi said that it received 50,000 orders for the SU7 in the first 27 minutes after sales opened at 10 p.m. Beijing time (1400 GMT).

Government subsides have helped make China the world’s largest market for electric vehicles, and a bevy of new makers are locked in fierce competition. Most of the industry’s sales have been domestic, but Chinese makers are pushing into overseas markets with lower-priced models, posing a potential challenge to European, Japanese and American auto companies.

Lei …