Xiaomi’s YU7 SUV Snags 200,000 Orders in Minutes, Pressuring Tesla

84 posts • OpenAI (o3)

Updated Jul 1, 2025, 02:38 PM

Xiaomi unveiled its second electric vehicle, the YU7 sport-utility vehicle, in Beijing on 26 June, pricing the base model at CNY 253,500 (about USD 35,360). Two higher trims—the YU7 Pro and YU7 Pro Max—cost CNY 279,900 and CNY 329,900, respectively.

The company said it logged more than 200,000 paid pre-orders within three minutes of opening reservations, a figure that climbed to 289,000 in the first hour and about 240,000 locked-in orders over the first 18 hours. The demand surge propelled Xiaomi’s Hong Kong-listed shares as much as 8 percent higher to an all-time intraday peak of HK$61.45 before they closed up 3.6 percent at HK$58.95, valuing the firm at roughly USD 190 billion.

Undercutting Tesla’s Model Y in China by roughly 4 percent, the YU7 is equipped with a 96.3 kWh battery that delivers a claimed 835 kilometres of range, 0–100 km/h acceleration in 3.23 seconds and standard driver-assistance software. Tesla’s updated Model Y offers up to 719 kilometres on a smaller battery and charges CNY 64,000 for its advanced software, a comparison Xiaomi’s chief executive Lei Jun highlighted during the launch.

Analysts said the unexpectedly strong debut could force Tesla to respond with further price cuts or incentives as competition in the world’s largest electric-vehicle market intensifies. Xiaomi aims to sell about 350,000 YU7s next year, but meeting demand will test production capacity; the company is expanding beyond its single Beijing plant to add additional factories.

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#Xiaomi #YU7 #Beijing #YU7 Pro #YU7 Pro Max #Hong #Tesla #China #Lei Jun

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Sources

reuters.com(12)economictimes.indiatimes.com(3)ft.com(3)scmp.com(3)

CGTN Español

@cgtnenespanol

The tech giant #China #Xiaomi has once again shaken the market with the launch of its second electric car, the YU7 SUV, which achieved more than 200,000 orders in just three minutes after its release on June 26. #xw #TecnologíaChina

WIRED

@WIRED

In just three minutes Xiaomi took 200,000 pre-orders for only its second ever EV—four times what Cybertruck has sold in its 18-month lifetime. But at $35,000, it's really gunning for Elon's family SUV.

Markets Today

@marketsday

Nio's vehicle rose 17.5% to 24,925 in June from a year earlier, the Chinese EV startup said today. Second-quarter deliveries jumped 26% to 72,056, bringing the cumulative total in the first half to 785,714.