Xiaomi YU7 SUV Secures 289,000 Reservations in One Hour, Challenging Tesla Model Y
Chinese technology giant Xiaomi has achieved a historic milestone in the electric vehicle market with the launch of its second EV, the YU7 crossover. The company secured over 289,000 reservations within just one hour of the launch, each requiring a refundable deposit of RMB 5,000. CEO Lei Jun described the response as a miracle, exceeding all expectations. Positioned as a direct rival to the Tesla Model Y, the YU7 starts at RMB 253,500, slightly undercutting Tesla’s pricing while offering superior specifications. Key features include an 835-kilometer range, rapid charging capabilities, and high-performance variants accelerating from 0 to 100 km/h in under three seconds. Analysts from Citic Securities and Jefferies predict the YU7 could become the best-selling EV model, citing its competitive pricing and advanced technology, such as NVIDIA-powered assisted driving and Qualcomm-based infotainment. This launch intensifies competition in China’s crowded EV sector, where Xiaomi aims to sell 350,000 vehicles this year, building on the success of its previous SU7 sedan. The event marks a significant challenge to Tesla’s dominance in the global SUV market.
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Xiaomi YU7 SUV Secures 289,000 Reservations in One Hour, Challenging Tesla Model Y
Chinese technology giant Xiaomi has achieved a historic milestone in the electric vehicle market with the launch of its second EV, the YU7 crossover. The company secured over 289,000 reservations within just one hour of the launch, each requiring a refundable deposit of RMB 5,000. CEO Lei Jun described the response as a miracle, exceeding all expectations. Positioned as a direct rival to the Tesla Model Y, the YU7 starts at RMB 253,500, slightly undercutting Tesla’s pricing while offering superior specifications. Key features include an 835-kilometer range, rapid charging capabilities, and high-performance variants accelerating from 0 to 100 km/h in under three seconds. Analysts from Citic Securities and Jefferies predict the YU7 could become the best-selling EV model, citing its competitive pricing and advanced technology, such as NVIDIA-powered assisted driving and Qualcomm-based infotainment. This launch intensifies competition in China’s crowded EV sector, where Xiaomi aims to sell 350,000 vehicles this year, building on the success of its previous SU7 sedan. The event marks a significant challenge to Tesla’s dominance in the global SUV market.
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