New Delhi. Xiaomi entered the car world with the launch of SU7 in March final 12 months. Final week, Chinese language digital giants launched their second mannequin of their home market – Yu7, and this electrical crossover has already made a splash. CNY at a worth of 253,500 (about 30.22 lakh rupees), Yu7 has shaken the worldwide vehicle market by securing 280,800 to 315,900 orders inside 72 hours of launch.
In response to Reuters, this automotive, which competed with Mannequin Y, obtained 2.40 lakh orders inside 18 hours and a pair of.89 lakh orders inside 24 hours. Reserving of YU7 is at present operating in any respect 351 Xiaomi EV retail shops throughout China. Xiaomi opened bookings for EV from 26 June.
Nonetheless, we can not confirm these cell numbers as a result of, Xiaomi has not but formally shared the official variety of orders discovered. Because of the aggressive price ticket with a minimize of about 4 p.c, Mannequin Y is getting a troublesome competitors in China. In response to analysts, this aggressive pricing will additional decline in Tesla’s market share.
Xiaomi’s inventory gave a optimistic response to the dialogue round its newest EV launch. The shares grew as much as 8% throughout early commerce, which reached an all -time excessive, after which closed 3.6% extra. Up to now this 12 months, inventory has elevated by greater than 70%, inflicting Xiaomi’s market analysis to about $ 190 billion. In response to LSEG information, it makes it one of the best performing large-cap inventory within the Asia-Pacific area.
China Tesla’s largest market
China, based mostly on the gross sales information of Q1 2025, stays the biggest market in Tesla. Final 12 months, the nation contributed about 20 p.c of Tesla’s complete income. Nonetheless, as Xiaomi is creating waves with its EV providing, competitors is getting quicker. Xiaomi CEO Lei Jun admitted that Tesla continues to be forward in driver assist know-how, however emphasised areas the place Xiaomi Yu7, Tesla is healthier than Mannequin Y.
