From CNBC: 2025-05-26 01:44:00

Xiaomi unveiled its first electric SUV, the YU7, with an expected driving range of 760 km. Analysts predict it will challenge Tesla’s Model Y in the Chinese market, priced around $34,700 to $44,420. Xiaomi aims to announce the official price at the July launch event.

Xiaomi’s YU7 is positioned as a luxury SUV that could outsell its first electric car, the SU7 sedan. Despite delivering over 28,000 SU7 units in April, a fatal crash led to a decline in sales. The YU7 reveal followed a launch event for a premium phone with a new chip claiming to rival Apple.

Tesla’s Model Y was the second best-selling new energy vehicle in China, behind BYD’s Seagull. Xiaomi’s SU7 ranked fourth in April sales. Xpeng is set to release the Max version of its Mona M03 car with advanced driver-assist features after the Lunar New Year holiday.

Read more: Xiaomi takes aim at Tesla’s bestselling car in China with its longer-range YU7