Porsche, Xiaomi compete over custom-model buyers in China, Bloomberg says

Chinese automakers have already begun winning over its country’s middle-class drivers from their Western rivals and are now expanding to rich customers looking to add extra to their cars, Monica Raymunt and Linda Lew of Bloomberg reports. Last month, Xiaomi (XIACF) launched a service allowing buyers to customize their 529,900 yuan SU7 Ultra racer electric sedans, adding at least 100,000 yuan to the sticker price. Xiaomi is competing for customers who may otherwise opt for an individualized Porsche (DRPRF) or other European brand.