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Xiaomi Raises Sales Target for Marquee EV in Sign of Confidence

Xiaomi Corp. aims to deliver 120,000 of its SU7 electric-vehicles this year, hiking its initial targets for a car it hopes can someday compete with Tesla Inc.The company disclosed its latest goal in a press statement issued after reporting its fastest pace of quarterly revenue growth in more than two years, reflecting an improving smartphone market. Revenue rose a faster-than-expected 27% to 75.51 billion yuan ($10.4 billion) in the March quarter, about 2.7% above the average estimate....

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