TLDR:
- Xiaomi unveiled the YU7, an electric SUV competing with Tesla’s Model Y, set to launch in mid-2024
- The YU7 features dual motors with 681 hp combined output and a top speed of 157 mph
- Xiaomi’s existing SU7 sedan has been highly successful, with over 20,000 deliveries in October and exceeding 100,000 production target
- Ford CEO Jim Farley has been testing an SU7 in the US for six months, praising its performance
- The company aims to become a top-five global automaker within 15-20 years, though current sales are China-only
Xiaomi, the Chinese technology giant known for smartphones and consumer electronics, has revealed its second electric vehicle, the YU7 SUV. The announcement comes as the company builds on the success of its first EV, the SU7 sedan, which has exceeded sales expectations in the Chinese market.
The YU7, unveiled through Xiaomi’s Weibo account and confirmed by marketing head Leo He, shares design elements with its sedan sibling. The new SUV maintains the distinctive styling that blends elements reminiscent of McLaren supercars and Porsche’s Taycan, adapted for the larger crossover format.
According to regulatory filings translated by CNEVPOST, the YU7’s dimensions place it in direct competition with the Tesla Model Y. The vehicle will be powered by a CATL-supplied lithium-ion battery, the same supplier used for the SU7 sedan. The dual-motor configuration delivers impressive performance specifications, with a combined output of 508 kW (681 horsepower) and a maximum speed of 253 kilometers per hour (157 mph).
Production of the YU7 will take place at Xiaomi’s Shanghai facility, operated in partnership with BAIC. The launch is scheduled for June or July 2024, though pricing details haven’t been announced. For reference, the base model SU7 sedan starts at 215,900 yuan (approximately $29,720).
The timing of the YU7’s introduction follows remarkable success with the SU7 sedan. Xiaomi reports that October deliveries reached 20,000 units, with consistent monthly deliveries exceeding 10,000 units throughout the third quarter of 2024. This strong demand has prompted the company to increase its 2024 production target to 130,000 units, having already surpassed its initial goal of 100,000 vehicles.
A key factor in Xiaomi’s EV success has been its integration of technology. The vehicles run on HyperOS, a modified version of Android, creating a seamless connection between Xiaomi smartphones and their cars. This integration has resonated strongly with Chinese consumers who value their vehicles as extensions of their digital ecosystem.
The technological prowess of Xiaomi’s vehicles has caught the attention of Western automakers. Ford CEO Jim Farley and CFO John Lawler conducted firsthand evaluations of Chinese EVs, leading to some striking conclusions. Lawler acknowledged that Chinese manufacturers had pulled ahead in certain aspects.
Perhaps more telling is Farley’s personal experience with the SU7. He revealed on the “Fully Charged” podcast that he has been driving an imported SU7 in the United States for six months, expressing reluctance to return the vehicle and describing it as “fantastic.”
The YU7 is expected to incorporate similar advanced features as the SU7, heightening concerns among traditional automakers about Chinese competition. Both vehicles showcase Xiaomi’s commitment to combining automotive engineering with consumer technology expertise.
Manufacturing of the YU7 will be handled at the same Shanghai facility that produces the SU7. This centralized production approach allows Xiaomi to maintain consistent quality control and leverage existing supply chain relationships.
The company’s ambitions extend beyond the Chinese market, though current sales remain domestic. During the SU7 launch event, Xiaomi’s chairman, founder, and CEO Lei Jun outlined bold aspirations, stating their goal to create vehicles that rival Porsche and Tesla.
Technical specifications of the YU7 demonstrate Xiaomi’s commitment to performance. The dual-motor setup provides substantial power, positioning the vehicle competitively in the premium electric SUV segment.
The YU7’s development also reflects Xiaomi’s strategic approach to product development, building on proven technologies and systems from the SU7 while adapting them to a new vehicle category.
Integration with Xiaomi’s existing ecosystem remains a central feature, allowing users to experience continuity across their devices and vehicles through the HyperOS platform.
Lei Jun has set an ambitious target for Xiaomi to become one of the top five global automakers within the next 15 to 20 years, though the company’s immediate focus remains on establishing its position in the Chinese market.
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