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Xiaomi is set to enter the electric SUV market with the launch of its second electric vehicle, the YU7, expected to debut in July, according to founder and CEO Lei Jun. The announcement came via a Weibo (NASDAQ:WB) post on Thursday, ahead of the official unveiling later the same day.
While Xiaomi (OTC:XIACF), the world’s third-largest smartphone manufacturer, will showcase the YU7 at the event, the company will not reveal pricing details or begin pre-orders. This strategic move keeps anticipation high as Xiaomi positions the YU7 as a direct rival to Tesla’s (NASDAQ:TSLA) popular Model Y. Tesla’s updated Model Y, launched earlier this year, starts at 263,500 yuan (approximately $36,579) in the Chinese market.
The YU7 aims to solidify Xiaomi’s foothold in the competitive EV space following the debut of its first electric vehicle earlier this year. The SUV is expected to feature high-performance specs, aligning with Xiaomi’s reputation for offering cutting-edge tech at competitive prices.
In addition to the YU7, Xiaomi will introduce several new products, including the self-developed XringO1 mobile chip and a new flagship smartphone, signaling its broader ambitions in both automotive and consumer tech innovation.
With this multi-product launch, Xiaomi is reinforcing its transformation from a smartphone-centric brand into a diversified tech powerhouse. The YU7’s arrival could significantly shake up China’s EV market, where domestic players and global giants like Tesla are fiercely competing for dominance.
Investors and tech enthusiasts alike will be watching closely as Xiaomi deepens its push into smart mobility and semiconductors—two of the most lucrative and strategically vital sectors in today’s tech landscape.
