In a bold move that has sent shockwaves through the automotive world, Chinese tech giant Xiaomi has announced its intention to launch an electric car by 2024. This audacious initiative marks a significant shift in Xiaomi's business strategy and sets the stage for a formidable challenge to established car manufacturers, including Apple and Tesla.

Tesla, the electric vehicle (EV) pioneer, is engaged in a fierce global price war, slashing prices in key markets like China, Germany, and the United States. This unprecedented move has sent shockwaves through the automotive industry and raised questions about the company's long-term strategy.