Xiaomi Shares Hit Record High as YU7 EV Details Emerge
Xiaomi’s stock reached an all-time high in Hong Kong, rising 8.5% to HK$48, following the release of regulatory details for its second electric vehicle, the YU7. According to filings with China’s Ministry of Industry and Information Technology, the YU7 boasts a driving range of up to 820 kilometers for its single-motor rear-wheel-drive variant, significantly surpassing the redesigned Tesla Model Y’s 719-kilometer range. The dual-motor all-wheel-drive model features a larger battery pack enabling over 760 kilometers of range and up to 691 horsepower, utilizing batteries supplied by CATL. This development signals continued momentum for Xiaomi after the successful launch of its SU7 sedan, which delivered over 135,000 units last year. The announcement coincides with Tesla beginning volume production of the refreshed Model Y at its Shanghai Gigafactory. The competitive landscape also includes upcoming models from XPeng and NIO, highlighting intensifying rivalry in China’s new energy vehicle sector. Investors reacted positively to the technical specifications, viewing them as a strong indicator of Xiaomi’s potential for further success in the automotive market.
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Xiaomi Shares Hit Record High as YU7 EV Details Emerge
Xiaomi’s stock reached an all-time high in Hong Kong, rising 8.5% to HK$48, following the release of regulatory details for its second electric vehicle, the YU7. According to filings with China’s Ministry of Industry and Information Technology, the YU7 boasts a driving range of up to 820 kilometers for its single-motor rear-wheel-drive variant, significantly surpassing the redesigned Tesla Model Y’s 719-kilometer range. The dual-motor all-wheel-drive model features a larger battery pack enabling over 760 kilometers of range and up to 691 horsepower, utilizing batteries supplied by CATL. This development signals continued momentum for Xiaomi after the successful launch of its SU7 sedan, which delivered over 135,000 units last year. The announcement coincides with Tesla beginning volume production of the refreshed Model Y at its Shanghai Gigafactory. The competitive landscape also includes upcoming models from XPeng and NIO, highlighting intensifying rivalry in China’s new energy vehicle sector. Investors reacted positively to the technical specifications, viewing them as a strong indicator of Xiaomi’s potential for further success in the automotive market.
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