NEWS  /  Analysis

Nearly 80,000 Chinese AI-related Firms Disappear Since ChatGPT Launch

By  Annabelle  Jul 03, 2024, 3:17 a.m. ET

Despite the initial surge in AI startups fueled by the technology boom, many companies have struggled with financial viability, facing the dual challenges of high cash burn rates and a cooling investment climate.

TMTPost -- Xiaomi Corporation is doubling down electric vehicle (EV) delivery to catch up with domestic peers among intense competition in their homeland China.

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Credit:Xiaomi

The delivery of Xiaomi‘s first first EV model SU7 in June topped 10,000, according to a post of the company’s auto unit on Chinese social media platform Weibo earlier this week. The monthly delivery for the first time exceeded the 10,000-unit mark,  achieving a new milestone of delivery since the model officially launched late March. Xiaomi added the shipment in July is expected to more than 10,000 vehicles too.

In a post on Weibo Tuesday, Xiaomi updated its devliery development. It said its work to accelerate delivery of SU7 is well on the way as the facility has initiated two-shift production in June. Starting from July 1, the delivery of SU7 series will be further accelerated, and the delivery cycle is expected to be shortened by up to 5 weeks after the order is locked in, Xiaomi said. At the same time, the company will carry out a new round of production line optimization and maintenance in the near future to prepare for further improvement of production capacity. It stressed such optimization and maintenance will not have any impact on the delivery  target of more than 10,000 units in July.

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