US EditionXiaomi Billionaire Lei Jun Challenges Elon Musk With Hot New SUV
- Xiaomi unveiled its first all-electric SUV, the YU7, on June 26 in Beijing, receiving 289,000 pre-orders within the first hour to compete with Tesla's Model Y.
- The launch follows Xiaomi's 2024 EV market entry amid a brutal price war and investor concerns, worsened by a fatal March crash involving its EV in self-driving mode.
- The YU7 features a range up to 835 km per charge, advanced ADAS hardware, pricing from around 253,500 yuan undercutting the Model Y, and marks a key part of Xiaomi's $10 billion EV strategy.
- Xiaomi expects to deliver 350,000 vehicles in 2025, more than doubling 2024 volumes, while its shares have surged over 70%, now trading near 30 times forward earnings amid strong market interest.
- The YU7 launch signals Xiaomi's intent to expand in China's competitive EV market and globally from 2027, potentially impacting Tesla's sales and reflecting a shift in Xiaomi's business model.
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Official launch with 200 thousand orders in three minutes for the crossover of the Chinese colossus, inspired by Ferrari Purosangue: three versions with a name...
·Italy
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Chinese manufacturer Xiaomi, known for its smartphones and electronic products, launches YU7, its first SUV, a five-seater model marketed from 30,200 euros.
·Paris, France
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Xiaomi, the Chinese manufacturer of smartphones and electric vehicles (EV), announced that the price of the new SUV electric YU7 is 253,500 yuan ($35,364), with almost 4% under the Model Y produced by Tesla,...
·Romania
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Leaning Left2Leaning Right3Center4Last UpdatedBias Distribution44% Center
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