China technology giantXiaomi is going to launch its electric car on March 28

Chinese smartphone company Xiaomi announced Tuesday it would formally launch its long-awaited electric car. Xiaomi is set to launch its electric car on March 28. The company will be formally launching the car in China on Tuesday, March 28, at 10 a.m. ET. Xiaomi's electric car will be available for purchase in China.

Chinese smartphone company Xiaomi announced Tuesday it would formally launch its long-awaited electric car. Xiaomi is set to launch its electric car on March 28. The company will be formally launching the car in China on Tuesday, March 28, at 10 a.m. ET. Xiaomi's electric car will be available for purchase in China.

China technology giant Xiaomi starts electric car sales. Launch comes as cut-throat price war intensifies in the world's biggest car market. China is the biggest market for electric cars, with more than 1,000 electric cars sold in the country. Xiaomi's launch comes as price war between electric car companies intensifies.

Xiaomi is putting a premium price on its first electric car because it already has about 20 million users in that segment. Group President Weibing Lu says Xiaomi already has 20 million premium users in the segment. Xiaomi is also targeting 20 million people in the electric car market, Lu says.