Overview

• Xiaomi secured 289,000 pre-orders for the YU7 in its first hour of sales, driving its Hong Kong-listed shares to a record high.
• The YU7 starts at 253,500 yuan, undercutting the Tesla Model Y by nearly 4 percent while offering up to 835 km of CLTC range on its base 96.3 kWh battery.
• Customers placing orders on Xiaomi’s app now face estimated delivery waits of 38 to 60 weeks, prompting over 400 complaints and refund requests on consumer forums.
• In June, Xiaomi delivered more than 25,000 electric vehicles in China, capping a second-quarter total of over 81,000 units despite sequential month-on-month dips.
• The company has raised monthly output from 4,000 vehicles in March to 28,000 in May and plans new factories in Beijing to relieve production bottlenecks.