Archive · 29 Jun 2025
Xiaomi's YU7 SUV Launches, Receives Over 200,000 Pre-Orders
Xiaomi, a phone maker, just released a new electric SUV called the YU7.
Within minutes, lots of people wanted to buy it, which made the company's stock price go up!
The new car is meant to be similar to Tesla's Model Y, but costs a bit less.
If you already pre-ordered Xiaomi's first car, the SU7, you can switch to the new SUV.
The company hopes this new car will help them sell more electric vehicles and compete with Tesla, while also helping with recent worries about car prices.
Xiaomi launched its YU7 electric SUV with 200,000 pre-orders in three minutes.
The YU7 is priced at 253,500 yuan ($35,360), designed to compete with Tesla's Model Y.
Xiaomi's shares rose 8% to a record high following the launch.
Buyers of Xiaomi's SU7 sedan can switch to the YU7 SUV within three days.
The launch coincides with warnings about price wars and scrutiny over assisted-driving technology.
- Who
- Xiaomi, led by founder Lei Jun, and its competitors Tesla and BYD.
- What
- Xiaomi launched the YU7 electric SUV and received 200,000 pre-orders in three minutes.
- When
- June 26th (launch), pre-orders began.
- Where
- China.
- Why
- To compete in the EV market, potentially gain market share from Tesla and other EV manufacturers.
Xiaomi's Perspective
Market and Governmental Views
Market Competition and Regulation
Xiaomi's Perspective
Aggressively entering the EV market by competing with Tesla and other EV manufacturers.
Market and Governmental Views
Concerns over a price war and scrutiny over the brand’s assisted-driving technology, and other regulations within China's car market.
- Model
- YU7
- Price
- 253,500 yuan ($35,360)
- Pre-orders in 3 minutes
- 200,000+
- Competitor
- Tesla Model Y
- Stock Increase
- 8%
- SU7 switch period
- Three days