Xiaomi Accelerates Launch of YU7 Electric SUV
Chinese technology giant Xiaomi has brought forward the launch of its second electric vehicle (EV) model, the YU7 SUV, due to strong consumer demand. The vehicle, seen as a potential competitor to Tesla’s popular Model Y, was initially scheduled for release in July but will now start sales at the end of June, according to founder and CEO Lei Jun.
In a post on Chinese social media platform Weibo, Lei Jun stated, “We are making the preparations, and [will] see you at the end of June.” The company has been ramping up production capacity amid significant interest in the new model. Xiaomi’s president, Lu Weibing, had previously mentioned that inquiries about the YU7’s presale greatly exceeded those for their first model, the SU7 sedan, which competes with Tesla’s Model 3.
The SU7 sedan was highly successful, securing over 70,000 orders in its first month after launch in March 2024. The strong demand for both models has prompted Xiaomi to accelerate production. While the company has not yet disclosed pricing or exact delivery dates for the YU7, the move indicates Xiaomi’s confidence in its growing presence in the competitive EV market.
The YU7’s launch comes as the global EV market continues to evolve, with established automakers like Tesla facing increasing competition from new entrants, particularly from China. The accelerated launch of Xiaomi’s YU7 demonstrates the company’s strategy to capitalize on the growing demand for electric vehicles and potentially challenge established players in the market.
