Xiaomi accelerates launch of YU7 electric SUV amid high expectations

The Chinese tech giant is fast-tracking the release of its second electric vehicle, the YU7 SUV, moving the launch from July to the end of June. The company's founder and CEO, Lei Jun, confirmed the accelerated timeline on the social media platform Weibo, stating, "We are preparing, see you at the end of the month!"

Following the success of its first EV, the SU7 sedan, Xiaomi clearly wants to maintain momentum. The company seems confident in the YU7's appeal, with display models already available in 317 of its stores across 86 cities as of mid-June.

This early exposure has apparently paid off. According to Xiaomi's president, Lu Weibing, the initial consumer interest in the YU7 has been remarkably strong, even outshining the debut of its sedan sibling. Lu noted that by late May, the number of paid deposits for the SUV was roughly three times higher than what the SU7 saw in a comparable period.

While the company is building significant hype, it remains tight-lipped about one crucial detail: the price. Lei Jun has playfully dismissed online rumors, particularly the one suggesting the YU7 would start at RMB 235,900 ($32,900). He also clarified that the price difference between the YU7 and the SU7 sedan, which starts at RMB 215,900 (approximately $29,750), won't be anywhere near RMB 20,000 ($2,780).

The final pricing, critical for success, will be kept under wraps until just a day or two before the official launch event, building suspense and allowing Xiaomi to react to market conditions, a common tactic in China.

Xiaomi's debut in the electric car market has been anything but quiet. The SU7 sedan, launched in March 2024, quickly got a lot of consumer attention thanks to its sleek design and attractive pricing. The company recently announced that monthly deliveries for the SU7, including the standard model and a high-performance Ultra version, have consistently exceeded 20,000 units for eight months in a row.

CEO Lei Jun has previously stated an ambitious goal for Xiaomi's EV division to achieve profitability by the second half of 2025. The success of the YU7 will be paramount to that ambitious plan, and all eyes will be on the launch at the end of this month to see if all that hype translates into another market hit.

Via