- The Xiaomi YU7 secured over 200,000 firm orders in the first 3 minutes, marking another rare case in China's EV market.
- The starting price for the Xiaomi YU7 is RMB 253,500 ($35,360), lower than the Tesla Model Y's RMB 263,500.
Xiaomi (HKG: 1810, OTCMKTS: XIACY) has launched the YU7, directly challenging Tesla's (NASDAQ: TSLA) popular Model Y in the highly competitive SUV (sport utility vehicle) market.
The Chinese tech giant officially rolled out the all-electric YU7, its first SUV model, at an event today, following the huge success of its SU7 series sedans.
Similar to the SU7, Xiaomi offers three variants for the YU7 -- Standard, Pro, and Max -- with starting prices of RMB 253,500 ($35,360), RMB 279,900, and RMB 329,900, respectively.
These prices are lower than those of the Model Y, which currently offers two variants in China --the Rear-Wheel Drive and Long Range All-Wheel Drive -- with starting prices of RMB 263,500 and RMB 313,500, respectively.
Shortly after the launch event, Xiaomi's EV unit, Xiaomi EV, announced on Weibo that the YU7 secured over 200,000 firm orders within the first three minutes.
Xiaomi founder, chairman, and CEO Lei Jun once again compared the YU7 to the Model Y during today's event, highlighting that the Xiaomi SUV outperforms the Tesla SUV in every aspect.
The YU7 is a five-seat mid-to-large-size SUV with dimensions of 4,999 mm in length, 1,996 mm in width, and 1,600 mm in height, with a wheelbase of 3,000 mm.
This size is larger than the Model Y, which measures 4,797 mm in length, 1,920 mm in width, and 1,624 mm in height, with a wheelbase of 2,890 mm.
Comparison of key specs between Xiaomi YU7 and Tesla Model Y
| YU7 Standard | YU7 Pro | YU7 Max | Model Y Basic | Model Y Long Range | |
|---|---|---|---|---|---|
| Starting price (RMB) | 253,500 | 279,900 | 329,900 | 263,500 | 313,500 |
| Dimensions (mm) | 4,999*1,996*1,600 | 4,797*1,920*1,624 | |||
| Wheelbase (mm) | 3,000 | 2,890 | |||
| Electrical system | 800-volt | 400-volt | |||
| Powertrain | Single motor RWD | Dual motor AWD | Dual motor AWD | Single motor RWD | Dual motor AWD |
| 0-100 km/h (S) | 5.88 | 4.27 | 3.23 | 5.9 | 4.3 |
| Battery (kW/h) | 96.3 | 96.3 | 101.7 | 62.5 | 78.4 |
| CLTC range (km) | 835 | 770 | 760 | 593 | 719 |
| Curb weight (kg) | 2,315 | 2,425 | 2,405 | 1,921 | 1,992 |
The standard version of the YU7 is a single-motor rear-wheel-drive model with 320 Ps of power, capable of accelerating from 0 to 100 km/h in 5.88 seconds.
The Pro and Max variants are dual-motor models, delivering 496 Ps and 690 Ps of power, respectively, accelerating from 0 to 100 km/h in 4.27 seconds and 3.23 seconds.
The two variants of the Tesla Model Y can accelerate from 0 to 100 km/h in 5.9 seconds and 4.3 seconds, respectively.
The YU7 Standard and Pro versions are equipped with a 96.3 kWh lithium iron phosphate (LFP) battery pack, with CLTC ranges of 835 km and 770 km, respectively.
The YU7 Max variant is equipped with a 101.7 kWh ternary lithium battery pack, offering a CLTC range of 760 km.
For comparison, the Tesla Model Y's two variants have CLTC ranges of 593 kilometers and 719 kilometers, respectively.
In addition to lower prices than the Model Y, Xiaomi is offering limited-time benefits for the YU7.
Consumers who pay a deposit of RMB 5,000 by July 31 can receive up to RMB 66,000 in limited-time benefits. These deposits are refundable within 7 days if the order is not locked-in.
Xiaomi allows customers who have already ordered the SU7 series but have not yet received delivery to change their purchase to the YU7, with a deadline of June 29.
Xiaomi has already produced some YU7 vehicles, and consumers can lock in their orders by paying a non-refundable deposit of RMB 20,000, with delivery expected within 1-5 weeks.
The company did not mention the start of deliveries for the YU7 customized vehicles at today's event, but its mobile app indicates this will occur in August.
This delivery schedule may be related to the progress of Xiaomi's EV factory phase 2 project. Previously, some local media reported that the phase 2 project would be completed by mid-June and officially commence production in July-August.
($1 = RMB 7.1691)
