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China's Xiaomi Unveils First Electric Vehicle

FILE PHOTO: People check new products of Xiaomi ahead of the 2023 Mobile World Congress in Barcelona, Spain February 26, 2023. REUTERS/Nacho Doce/File Photo
FILE PHOTO: People check new products of Xiaomi ahead of the 2023 Mobile World Congress in Barcelona, Spain February 26, 2023. REUTERS/Nacho Doce/File Photo
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China's Xiaomi Unveils First Electric Vehicle

FILE PHOTO: People check new products of Xiaomi ahead of the 2023 Mobile World Congress in Barcelona, Spain February 26, 2023. REUTERS/Nacho Doce/File Photo
FILE PHOTO: People check new products of Xiaomi ahead of the 2023 Mobile World Congress in Barcelona, Spain February 26, 2023. REUTERS/Nacho Doce/File Photo

Chinese smartphone maker Xiaomi took the wraps off its first electric vehicle on Thursday and promptly announced it was aiming to become one of world's top five automakers.
The sedan, dubbed the SU7, is a highly anticipated model that is expected to make the most of its shared operating system with the company's popular phones.
But the car is making its debut at a time when the world's largest auto market is wrestling with a capacity glut and slowing demand that have stoked a bruising price war.
"By working hard over the next 15 to 20 years, we will become one of the world's top 5 automakers, striving to lift China's overall automobile industry," Chief Executive Lei Jun said at the event.

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Apple Airlifted iPhones Worth a Record $2 Billion from India in March as Trump Tariffs Loomed

A man walks past a poster of an Apple iPhone 16 at a store in Denpasar on Indonesia's resort island of Bali on April 12, 2025. (AFP)
A man walks past a poster of an Apple iPhone 16 at a store in Denpasar on Indonesia's resort island of Bali on April 12, 2025. (AFP)
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Apple Airlifted iPhones Worth a Record $2 Billion from India in March as Trump Tariffs Loomed

A man walks past a poster of an Apple iPhone 16 at a store in Denpasar on Indonesia's resort island of Bali on April 12, 2025. (AFP)
A man walks past a poster of an Apple iPhone 16 at a store in Denpasar on Indonesia's resort island of Bali on April 12, 2025. (AFP)

Apple's main India suppliers Foxconn and Tata shipped nearly $2 billion worth of iPhones to the United States in March, an all-time high, as the US company airlifted devices to bypass President Donald Trump's impending tariffs, customs data shows.

The smartphone maker stepped up production in India and chartered cargo flights to ferry 600 tons of iPhones to the United States to ensure sufficient inventory in one of its biggest markets on concern Trump's tariffs would push up costs.

In April, the US administration imposed 26% duties on imports from India, much lower than the more than 100% China was facing at the time. Trump has since paused most duties, except for China for three months.

Foxconn, Apple's main India supplier, exported smartphones worth $1.31 billion in March, its highest ever for a single month and equal to shipments for January and February combined, according to commercially available customs data reviewed by Reuters.

This included Apple iPhone 13, 14, 16 and 16e models, and took Foxconn's total shipments from India to the United States this year to $5.3 billion.

Exports from Tata Electronics, another Apple supplier, stood at $612 million in March, around 63% higher than the previous month, and included iPhone 15 and 16 models.

Apple, Foxconn and Tata did not immediately respond to requests for comment. Reuters is the first to report the shipment details.

Customs data showed all Foxconn shipments to the United States in March were by air from the Chennai Air Cargo terminal, and landed at various locations, including Los Angeles and New York, with Chicago receiving the majority.

Trump later granted exclusions from steep tariffs on smartphones and some other electronics imported largely from China, but later indicated that those exemptions will likely be short-lived.

To expedite shipments, Apple lobbied Indian airport authorities to cut the time needed to clear customs at Chennai airport in the southern state of Tamil Nadu, to six hours down from 30 hours.

At least six cargo jets were used in the operation which one source described was a way to "beat the tariffs".