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2mo ago

Xiaomi’s YU7 SUV Draws Record 289,000 Pre-Orders, Undercuts Tesla Model Y

Sent Xiaomi shares up 8%, the surge is propelling the company to ramp up production for 350,000 deliveries before its EV unit aims to turn profitable in the second half of 2025.

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Xiaomi YU7 Max Electrek Hero
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A person looks at the new electric SUV YU7 displayed at a Xiaomi store in Beijing, China May 29, 2025. REUTERS/Tingshu Wang/File Photo

Overview

  • Xiaomi priced the YU7 at 253,500 yuan ($35,322), 4% below Tesla’s Model Y starting price of 263,500 yuan.
  • The YU7 garnered over 289,000 paid pre-orders within its first hour on sale, exceeding market expectations.
  • Xiaomi’s stock jumped 8% to a record high in Hong Kong as the company moves to meet surging demand.
  • The SUV delivers up to 835 km of CLTC range, supports 800V rapid charging from 10% to 80% in 12 minutes and features NVIDIA DRIVE AGX Thor-powered LiDAR and sensor systems.
  • Xiaomi is targeting 350,000 vehicle deliveries in 2025 and projects its electric-vehicle division will reach profitability in the second half of the year.