Chinese electronics manufacturer: New electric car drives Xiaomi shares higher. Xiaomi increased its market value by around $7.6 billion to $55 billion on the first day of trading.

Almost 89,000 pre-orders were received in the first 24 hours for the car, which, with a starting price of under $30,000, is cheaper than Tesla's Model 3, and the delivery time is up to seven months. Xiaomi is expected to become one of the five largest car manufacturers in the world in the next 15 to 20 years.