Tesla has new competition with a Chinese EV priced lower than Model 3

Tesla is getting some more EV competition in China. It is coming from Xiaomi, a Chinese consumer electronics company that officially introduced its electric SU7 sedan during a Thursday event involving co-founder Lei Jun, Barron’s reported.The cheapest model of the SU7 has a price tag that equates to roughly $30,000, according to the outlet. Xiaomi is reportedly working with Beijing Automotive Group Co. on its manufacturing. CLICK HERE TO READ MORE ON FOX BUSINESSThe vehicle is expected to vie with the Model ...