Xiaomi to launch first EV in China, shares surge
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 12 March 2024
⏱️ 7 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Tuesday, March 12th. I'm Julie Morgan. |
| 0:12.8 | Chinese smartphone company, |
| 0:14.4 | Shao Me is launching his first EV |
| 0:17.1 | by the end of the month. |
| 0:18.8 | The gloves are coming off at Disney |
| 0:20.8 | in the upcoming proxy fight, and Tyson is laying off even more workers at a plant in |
| 0:26.4 | Iowa. |
| 0:28.6 | Chinese smartphone maker Shao Me will launch his first electric sedan on March 28th in China. |
| 0:34.8 | The announcement by the company's CEO sent its Hong Kong listed share soaring 11.9% on Tuesday. |
| 0:42.3 | The company which invested the equivalent of 1.9% on Tuesday, the company which invested the equivalent of $1.39 billion in the initial |
| 0:47.4 | R&D phase for the electric vehicle, pre-launched the SU7 model late last year. |
| 0:53.3 | At the time, the company's CEO said it aimed to become |
| 0:56.3 | one of the top five global automakers over 15 to 20 years. |
| 1:01.3 | The EV will feature Shalmee's self-developed e-motor, battery, hyper-dycasting, and autonomous |
| 1:08.0 | driving. In terms of prize seeking Alpha, analyst Florian Mueller said this sporty vehicle is unlikely to disrupt the market in the budget segment. |
| 1:17.2 | He went on to say that statements from the company make it clear that the EV will not be targeted at the low end of the market. |
| 1:25.0 | So Mueller sees this as a challenging endeavor. |
| 1:28.0 | While Disney unveiled a critical video in the style of a negative political ad against Nelson Peltz in his try-in group. |
| 1:36.3 | Peltz has put himself in former Disney Chief Financial Officer Jay Resulo forward for a pair of board seats at the company's April 3rd annual meeting. |
| 1:46.3 | This is a battle that he started a couple of years ago but paused in early 2023 after Bob |
| 1:52.0 | Iger returned as CEO. |
... |
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