US EditionCommentary: Xiaomi Made a Cheap Ferrari EV. Who Needs Luxury Carmakers?
- Xiaomi launched its luxury electric SUV YU7 in China on June 26, receiving nearly 300,000 preorders within an hour.
- The launch follows Xiaomi's automotive entry four years ago and aims to expand EV sales internationally by 2027, with a European R&D center planned.
- YU7 shares the self-developed Modena platform with the pioneering SU7 sedan, featuring innovative battery safety like upside-down cells and aerogel insulation.
- YU7 offers up to 835 km range at a starting price of 253,500 yuan , while CEO Lei Jun expects demand to triple compared to SU7.
- Xiaomi's rapid innovation challenges Western luxury automakers, who risk commoditization unless they surpass China's advancing electric and software-defined vehicles.
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According to ANFAC, Spain joined more than 2.2 million vehicles in 2024. 82% went directly to the exportation, the basic pillar of our factories and dozens of workshops in polygons that smell of burnt oil and reheated coffee. The bosses observe with tension the irruption of Xiaomi, which with its YU7 from 28,000 € without aid, forces to recalculate margins. In some corridors of dealers already joke: “we sell volume or there will be mechanics tha…
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