Chinese tech giant enters EV market with competitive pricing, advanced features Xiaomi has unveiled its luxury YU7 SUV, priced to undercut Tesla’s Model Y in an intensifying electric vehicle price war. The YU7 will start at 253,500 yuan (US$35,322), according to CEO Lei Jun, which is 10,000 yuan less than the Model Y’s starting price of 263,500 yuan in China. Xiaomi is known for manufacturing smartphones, and other consumer electronics, now moving into the electric vehicle space to compete with established brands. Prior to the official announcement, analysts anticipated the YU7 would be priced between 250,000 yuan and 320,000 yuan, with projected monthly sales of around 30,000 units. Xiaomi’s earlier SU7 sedan was also priced lower than Tesla’s Model 3. Lei claimed the YU7 surpasses the Model Y in several aspects, though it lags slightly in driver-assist capabilities. The YU7 incorporates driver-assist software, with the most advanced version utilising Nvidia’s Thor chip. Xiaomi said it received over 200,000 pre-sale orders within three minutes of launch. The YU7, initially slated for a July release, boasts a claimed driving range of at least 760 kilometres (472 miles) on a single charge, exceeding the 719 kilometres advertised for Tesla’s extended-range Model Y. The launch event showcased AI features, including hand motion controls and app-based parking assistance. The YU7 also supports Apple CarPlay and Apple Music. In addition to the YU7, Xiaomi launched AI-connected glasses, similar to Meta’s Ray-Bans, featuring lens tint adjustment and QR code payment scanning. These glasses, priced at 1,999 yuan (US$279), offer functionalities like photo and video capture, as well as interactive AI for object identification and text translation. Currently, there are no plans to sell the glasses outside of China. Post Views: