Xiaomi unveiled its new electric car, the YU7, at a press conference in Beijing, aimed at competing with the Tesla Model Y and undercutting its price. CEO Lei Jun stated the YU7 would be sold at a significant discount to the Chinese-made Tesla. In a very short time, Xiaomi reported receiving an astonishing 289,000 orders for the car, with 240,000 confirmed buyers within the first hour. This overwhelming response has positioned the YU7 to be sold out until 2027, mirroring the successful launch of the SU7 sedan.
By 10:03 PM, Xiaomi had received 200,000 orders. Xiaomi claims it received 289,000 orders within an hour of reservations opening, with 240,000 of them locking in as confirmed buyers.
The YU7 was essentially sold out until 2027. Given the wild success of the SU7 sedan, it was a no-brainer that the YU7 would likely see similar numbers.
Xiaomi CEO Lei Jun just announced it would undercut even the Chinese-made Tesla by a sizable margin. Everyone already knew the Xiaomi YU7: a sleek, Ferrari-esque crossover, would be aimed right at the Tesla Model Y.
Judging from what I've experienced behind the wheel of the YU7 on Chinese roads, Chinese buyers are in for a real treat.
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