Xiaomi’s EV Launch Challenges Tesla with Record Orders
Xiaomi shares surged 10% following unprecedented demand for its new electric vehicle, the YU7 SUV. Within three minutes of launch, the Chinese tech giant secured 200,000 orders—a feat co-founder Lei Jun hailed as "a miracle in China’s auto industry." Priced at $35,000, the model undercuts Tesla’s Model Y by 4% in China while offering superior range (835 km vs. 719 km) and acceleration (0-62 mph in 3.23 seconds).
The vehicle’s Nvidia-powered computing platform and active air suspension underscore Xiaomi’s aggressive pivot from consumer electronics to automotive manufacturing. Analysts view this as a direct threat to Tesla, which faces declining sales in China and Europe. The launch marks a watershed moment for EV competition in Asia’s largest auto market.
