- The Xiaomi YU7 will be launched in July, and surpasses the Tesla Model Y in multiple fronts.
- Xiaomi is already one of the top 10 players in the global BEV market with the SU7 sedan.
Xiaomi (HKG: 1810, OTCMKTS: XIACY) has officially debuted the YU7, and the SUV (sport utility vehicle) is expected to be a real threat to Tesla's (NASDAQ: TSLA) hot-selling Model Y in China.
The smartphone giant debuted the YU7, its second model after the SU7 electric sedan, at a product launch event tonight.
The YU7 is a five-seat mid to large-size SUV, measuring 4,999 mm in length, 1,996 mm in width and 1,600 mm in height with a wheelbase of 3,000 mm.
The dimensions are larger than those of the updated Model Y. The Tesla SUV measures 4,797 mm in length, 1,920 mm in width and 1,624 mm in height, with a wheelbase of 2,890 mm.
When the facelifted Model Y was launched in China on January 10, Tesla took to Chinese social media platforms to express confidence that its SUV would not fear competition from any local rivals.
Xiaomi founder, chairman and CEO Lei Jun made an interesting response at the time, suggesting that the YU7 would be more competitive.
At today's event, Lei put the Xiaomi YU7 in straight comparisons with the Tesla Model Y, showcasing that the model is ahead across the board in terms of key specifications.
Xiaomi is offering three variants of the YU7 -- Standard, Pro, and Max -- similar to the SU7 sedan, though pricing information was not released.
The YU7 Standard is a single-motor rear-wheel drive model with 320 Ps of power that can accelerate from 0 to 100 kmph in 5.88 seconds.
The Pro and Max variants are both dual-motor models with 496 Ps and 690 Ps of power and can accelerate from 0 to 100 kilometers per hour in 4.27 seconds and 3.23 seconds respectively.
The Tesla Model Y is currently offered in two variants in China, a single-motor rear-wheel drive version, and a long-range all-wheel drive version, capable of accelerating from 0 to 100 kilometers per hour in 5.9 seconds and 4.3 seconds, respectively.
In Lei's comparisons, the YU7 is similar to the Model Y in terms of acceleration performance, but significantly ahead in other areas.
Both the YU7 Standard and Pro variants come with a lithium iron phosphate (LFP) battery pack with a capacity of 96.3 kWh and a CLTC range of 835 km and 770 km respectively.
The YU7 Max variant comes with a lithium ternary battery pack with a capacity of 101.7 kWh and has a CLTC range of 760 km.
For comparison, the two variants of the Tesla Model Y have a CLTC range of 593 kilometers and 719 kilometers respectively.
Lei emphasized that range is the first thing consumers should consider when buying an EV, and the YU7 has the highest range among mid to large-size SUVs.
Built on an 800-volt high-voltage electrical platform with a charging multiplier of up to 5.2 C, the YU7 can get a range of 620 kilometers in as little as 15 minutes of charging.
As a comparison, the Model Y takes 27 minutes to charge from 10 percent to 80 percent, Lei said.
The YU7 uses the Nvidia Thor smart driving chip, which is currently the latest from the US chip giant and has 700 TOPS of computing power.
The Xiaomi SUV also has air suspension, which allows for a more comfortable experience.
Xiaomi positions the YU7 as a luxury performance SUV, which Lei said is an advanced SUV created by the company for the elite of the times.
The YU7 will hit the market in July and could be the strongest rival the locally produced Model Y has faced since deliveries in China began in January 2021.
The Model Y is a global hot-seller that has also gained popularity in China, where it is the top-selling SUV in many months, even outpacing some gasoline-powered SUVs.
The SUV sold 480,309 units in 2024, contributing 74.62 percent of Tesla's annual sales, according to data compiled by CnEVPost.
However, the Model Y's sales growth in China has slowed down significantly, with the emergence of more local rivals.
The Model Y's annual sales in China from 2022-2024 were 315,314 units, 456,394 units, and 480,309 units, with year-on-year growth rates of 85.64 percent, 44.74 percent, and 5.24 percent, respectively.
In January-April this year, the Model Y sold 101,873 units in China, down 19.61 percent year-on-year.
Xiaomi is a latecomer to the Chinese EV market, but the SU7's sales, have proven its success.
Since its launch in March 2024, the SU7 sedan series has cumulatively sold more than 258,000 units, Lei said at today's event.
The success of SU7 has made Xiaomi one of the largest players in the global battery electric vehicle (BEV) market in a very short time.
Xiaomi came in at No. 8 with a 2.8 percent share of global BEV sales in the first quarter, according to a report yesterday by market research firm TrendForce.
Xiaomi was the only one in the top 10 with just one model, TrendForce noted.
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