- Xiaomi will officially unveil the YU7 this Thursday, a model that has the potential to reshape China's electric SUV market.
- Xiaomi EV delivered more than 28,000 units in April, its seventh consecutive month with more than 20,000 units.
Xiaomi (HKG: 1810, OTCMKTS: XIACY) will officially unveil the YU7 this Thursday, a model that has the potential to reshape China's electric SUV (sport utility vehicle) market.
Xiaomi EV, the smartphone giant's electric vehicle (EV) unit, announced today on Weibo that the Xiaomi YU7 -- Xiaomi's first SUV -- will be unveiled at Xiaomi's strategic new product launch event on May 22, starting at 7 pm Beijing time.
"Witness together, a new beginning for Xiaomi's 15th anniversary," Xiaomi EV wrote.
Along with the YU7, the launch will also involve Xiaomi's first mobile SoC (system on a chip), the Xring O1, the Xiaomi 15S Pro smartphone and the Xiaomi 7 Ultra tablet.
Xiaomi officially launched its first model SU7 on March 28, 2024, and the electric sedan is a Tesla (NASDAQ: TSLA) 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.
Xiaomi EV announced on May 1 that it delivered more than 28,000 units in April, marking the seventh consecutive month it has seen monthly deliveries of more than 20,000 units.
Last December, Xiaomi EV announced it named its second model the YU7, a Tesla Model Y competitor, which was expected to hit the market in June or July 2025.
A regulatory filing at the time revealed that the YU7 measured 4,999 mm in length, 1,996 mm in width and 1,600 mm in height, with a wheelbase of 3,000 mm.
For comparison, the updated Model Y measures 4,797 mm in length, 1,920 mm in width and 1,624 mm in height, with a wheelbase of 2,890 mm.
It's worth noting that the Xiaomi EV has faced significant public pressure over the past two months, following an SU7 crash that killed three people in late March.
Additionally, a lot of complaints about the quality of the Xiaomi SU7 have appeared on Chinese social media over the past month, adding to the pressure the company is facing.
These seem to have affected sales of Xiaomi EV. In the week ending May 11, insurance registrations for Xiaomi EV stood at 5,180, a decrease of 8.96 percent from the previous week's 5,690, marking the third consecutive week of decline, according to data compiled by CnEVPost.
