Xiaomi said it sold more than 200,000 YU7 cars within three minutes of its Beijing launch. The YU7, priced at $35,000, aims to compete with Tesla's Model Y in China. Xiaomi's stock rose as much as ...

The Xiaomi founder said the YU7 SUV will hit the Chinese market in July 2025. We are still awaiting official pricing, but we’d imagine it will once again be “competitive” with Tesla.

Xiaomi said it sold more than 200,000 YU7 cars within three minutes of its Beijing launch. The YU7, priced at $35,000, aims to compete with Tesla's Model Y in China.

Xiaomi's shares, which had risen by 34.8% year to date, closed down 5.5% on Wednesday, underperforming a 0.2% gain in the Hang Seng Tech index.