SHANGHAI (Reuters) -Hong Kong-listed shares of Xiaomi opened up 8% on Friday, after the launch of a new electric car model. The shares were up roughly 5% in early trading, after the Chinese EV and smartphone maker on Thursday priced its new electric YU7 SUV from 253,

The unveiling of Xiaomi Corp.’s first electric SUV on Thursday will showcase how the Chinese tech company has become an investor darling with its high-stakes bet on the auto market.

China’s Xiaomi Corporation launched its eagerly anticipated YU7, its first battery-powered SUV model, a major milestone in the development of the consumer electronics giant’s automotive business. According to local reports,