Phonemaker Xiaomi Unveils First EV, Seeking to Take on Tesla in China

• Elon Musk thinks that Chinese auto firms like BYD are Tesla’s biggest competition. 
• Now Tesla has a new rival in China after smartphone maker Xiaomi unveiled its first EV, the SU7.
• The tech company invested $10 billion in 2021 to try and become an electric car giant.

Elon Musk is already taking heat in China from…