Key points
- Analysts say the YU7 could challenge Tesla’s Model Y in China
- Public had expected the launch at last month’s Shanghai auto show
- SU7 electric sedan orders fell after fatal accident in March
ISLAMABAD: China’s Xiaomi has said it will launch its highly-anticipated ‘Tesla-challenging’ YU7 electric sports utility vehicle on Thursday.
Alongside YU7, products such as a mobile chip developed by the company will also be launched, it said.
Analysts have touted the YU7 as a challenger to Tesla’s best-selling Model Y in China, the world’s largest auto market.
Lei Jun, Xiaomi’s founder and CEO, said on his Weibo account on Monday that the YU7 will be launched at the event alongside other products, such as the Xring O1 mobile chip and new Xiaomi 15S Pro smartphone.
Xiaomi’s 15th anniversary
YU7 has the potential to reshape China’s electric sport utility vehicle market, according to CnEVPost, a website focused on reporting on the new energy vehicle industry in China.
“Witness together, a new beginning for Xiaomi’s 15th anniversary,” Xiaomi EV wrote.
Xiaomi began manufacturing EVs last year with the launch of the SU7 sedan after selling smartphones, household appliances and smart gadgets for most of its 15-year history, according to Reuters.
Since December, the SU7 sedan has outsold Tesla’s Model 3 on a monthly basis.
Tesla Model 3 competitor
Analysts say it is still outselling, but the company’s orders for its SU7 sedan have fallen following a fatal accident in March involving an SU7.
Xiaomi officially launched its first model SU7 on March 28, 2024, and the electric sedan is a Tesla Model 3 competitor.
On February 27, Xiaomi launched the SU7 Ultra, the company’s electric sedan with 1,548 Ps of maximum horsepower based on the regular SU7.
As a latecomer to China’s EV space, Xiaomi has had great success in this highly competitive market.
