Xiaomi has launched its YU7 electric crossover, priced at $35,300, undercutting Tesla's Model Y by approximately $1,200. The company received 200,000 reservations shortly after opening orders, showcasing significant demand. Unlike its previous sedan, the SU7, the YU7 represents Xiaomi's serious entry into the EV space, with three trim options available. CEO Lei Jun has made competitive remarks against Tesla, indicating Xiaomi's intention to not just compete, but to potentially overshadow the market leader in sales.
Xiaomi's YU7 crossover, priced at $35,300, challenges Tesla's dominance in the Chinese EV market by undercutting the Model Y price and securing 200,000 reservations in minutes.
By launching the YU7, Xiaomi is not just competing with Tesla but aiming to take a significant share of the market, evidenced by the immediate demand.
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