Chinese company Xiaomi says it will launch its first electric car later this month. The smartphone company announced on social media that its SU7 EV will be released on March 28th and that customers can join a waitlist for the car at 59 stores across 29 cities in China. The company previously shared details about the car in December, saying it would target the luxury market but has yet to release a price. Shares of Xiaomi had their biggest jump in over a year following the news.