Xiaomi’s CEO admitted his SUV wasn’t cheap enough to beat Tesla. Then he launched one that is.

Most CEOs would not go on stage and admit their product was not competitively priced against a rival. Lei Jun did exactly that on Wednesday evening, and then launched a model that fixes it. At Xiaomi’s “Human x Car x Home” launch event on 21 May, the founder and CEO unveiled the YU7 True Standard […] This story continues at The Next Web