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2w ago

Xiaomi Unveils YU7 SUV Undercutting Tesla’s Model Y in China

Over 200,000 orders secured in minutes reflect Xiaomi’s push to scale its EV business beyond smartphones with plans to become profitable in the second half of the year.

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Xiaomi YU7 Max Electrek Hero
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Overview

  • Xiaomi launched the YU7 SUV on June 26 with a base price of 253,500 yuan ($35,320), undercutting Tesla’s Model Y by 10,000 yuan in China.
  • The YU7 is equipped with Nvidia’s Thor chip and a rooftop LiDAR sensor, offering 700 TOPS of autonomous driving computing power for its HyperVision driver-assist system.
  • Xiaomi claimed it received over 200,000 confirmed orders within three minutes of opening reservations, each secured by a 700 USD deposit.
  • The company has started production of the YU7 with units available for delivery according to pre-arranged configurations and expects to deliver 350,000 vehicles in 2025.
  • Following the launch, Xiaomi’s Hong Kong-listed shares rose as much as 8%, reflecting strong investor enthusiasm despite regulatory scrutiny after a fatal SU7 crash in March.