Chinese Phonemaker Touts 200,000 Electric SUV Orders in 3 Minutes
Headline: Xiaomi’s auto arm blows past expectations with instant 200,000-plus YU7 pre‑orders, setting a new benchmark in China’s EV surge.
Subheadline: The debut of the YU7 SUV, aimed at rivaling Tesla’s Model Y, sparked a frenzy as over 200k units were reserved in three minutes—sending Xiaomi’s stock to record highs and amplifying pressure on Tesla in China.
1. A Meteoric Launch
On June 26, Xiaomi opened reservations for its second-ever EV—the YU7 SUV—priced at RMB 253,500 (around US $35,360), approximately 4 % cheaper than Tesla’s Model Y in China.
Within just three minutes, the company secured 200,000 preorder reservations, scaling to 289,000 within an hour, according to company data.
2. A Threat to Tesla
The YU7’s aggressive pricing—RMB 253,500 vs Model Y’s RMB 263,500—and standout specs (CLTC range: up to 835 km, topping Model Y’s 719 km) cast a long shadow over Tesla’s dominance .
Analysts at Citi and Jefferies predict that Tesla may need to slash prices, offer free full‑self‑driving support, extend financing options, and enhance incentives just to stay competitive .
3. Financial Acceleration
Xiaomi’s Hong Kong–listed shares surged 8 % at one point—hitting a record HK$61.45—before settling with a 3.6 % increase, marking the stock as one of Asia Pacific’s best performers this year, up over 70 %.
Goldman Sachs analysts raised their price targets, noting the YU7 could solidify Xiaomi’s status in China’s premium EV space.
4. Scaling Up EV Ambitions
The YU7 marks Xiaomi’s follow-up to its SU7 sedan, which outsold Tesla’s Model 3 monthly since December.
Xiaomi aims to deliver 350,000 EVs in 2025, backed by extensive partnerships with BYD, GAC Toyota, and Zhengzhou Nissan—and now land acquisition in Beijing for smart‑car factories.
5. Industry Context: NEV Boom
Chinese new-energy vehicle (NEV) production is soaring—up 46 % in early 2025—while traditional ICE car output declined.
Market leaders: BYD holds 29 % market share, Tesla nearly 5 %, and Xiaomi now commands about 3.5 %, reinforcing the competitive stakes .
🧭 Editor’s Insight
| Theme | Takeaway |
|---|---|
| Demand shock | 200k orders in 3 minutes signals overwhelming consumer interest—SUV demand is booming. |
| Competitive pivot | Xiaomi is outflanking Tesla with aggressive pricing and high-end specs. |
| Financial boost | Stock rally boosts capital available for EV scaling and innovation. |
| Execution test | The key question: can Xiaomi deliver quality, volume, and service at this pace? |
| Market ripples | Tesla may have to retool its China strategy—price cuts, incentives, FSD perks all in play. |
✅ Final Thoughts
Xiaomi’s YU7 launch marks a watershed moment in China’s EV race: instant demand, serious Tesla pressure, and a bold bid to expand its footprint beyond smartphones and appliances into mainstream automotive. If production and quality assurance match this hype, Xiaomi could dispatch a serious challenge to incumbents. All eyes now are on delivery execution, consumer satisfaction, and how competitors—especially Tesla—respond.
