Xiaomi Takes on Tesla with New YU7 SUV Starting at ¥253,500

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Photo:AFP

Chinese tech brand Xiaomi has just launched a brand-new electric SUV called the YU7, and it's directly taking on Tesla’s Model Y. The YU7 starts at 253,500 yuan (about $35,360), which is cheaper than the latest Model Y which sells for 263,500 yuan in China. Xiaomi's founder, Lei Jun, said he’s confident this car can beat Tesla and other strong competitors.

At the big launch event, Xiaomi opened pre-orders with a 5,000 yuan deposit, and in just three minutes, over 200,000 people placed their orders.

The top model of the YU7 can go 760 kilometers (about 470 miles) on one charge and speeds up from 0 to 100 km/h in just 3.23 seconds. It supports super-fast charging and has smart driving features, including lidar sensors. It also comes with cool features like big screens, massage chairs, and hidden drawers.

Buyers who ordered Xiaomi’s earlier car, the SU7 sedan, but haven’t received it yet, can switch to the SUV within three days — a surprise option announced at the event.

This launch comes at a tough time, as the Chinese government is watching car companies closely after a deadly crash involving the SU7. Officials are asking companies to stop tricks like selling unused cars as “used” to boost numbers and to pay their suppliers faster.

Even with these challenges, Lei Jun believes this new SUV will help Xiaomi's car division make a profit by the end of this year, making it one of the fastest companies in the auto world to do so.

Along with the SUV, Xiaomi also showed off new AI glasses, a foldable phone, and a tablet using their own Xring O1 chip.