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Xiaomi to Launch YU7 Electric SUV in July, Aims to Challenge Tesla’s Model Y in China

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Xiaomi, China’s tech giant and the world’s third-largest smartphone maker, announced Thursday that it will begin sales of its second electric vehicle — the YU7 SUV — in July, positioning it as a direct challenger to Tesla’s Model Y, the best-selling EV SUV in China.

The YU7 boasts a driving range of up to 835 kilometers (519 miles) per charge, surpassing Tesla’s redesigned Model Y, which has a maximum range of 719 kilometers (447 miles). Xiaomi did not disclose pricing or begin pre-orders but hinted that, based on configuration, the YU7 could be priced 60,000–70,000 yuan ($8,300–$9,700) higher than the Model Y’s base price of 263,500 yuan ($36,574).

“But we’ll talk about the price in July,” said Xiaomi founder and CEO Lei Jun during the product launch event.

Competitive Edge and Market Context

  • The YU7 is Xiaomi’s second EV following the SU7, a sporty electric sedan that launched last year with design cues from Porsche and competitive pricing under Tesla’s Model 3.

  • Since December, the SU7 has consistently outsold Tesla’s Model 3 in China.

  • Xiaomi has delivered over 258,000 SU7 units since launch, according to Lei.

Headwinds and Safety Concerns

Xiaomi’s growing EV business faces scrutiny after a fatal highway crash in March involving an SU7 in driving-assistance mode. The company has also apologized for unclear marketing practices that led to allegations of false advertising.

“We apologize for marketing that was not clear enough,” Lei acknowledged, amid efforts to restore consumer trust.

Beyond EVs: Xiaomi Chips Up Its Game

Alongside the YU7 announcement, Xiaomi unveiled its second self-developed chip, the Xring T1, following the earlier launch of its Xring O1. Lei claimed the Xring O1 rivals Apple’s A18 chip in performance — signaling Xiaomi’s deeper push into semiconductor self-sufficiency and hardware-software integration.

The simultaneous launch of smartphones, tablets, and EV innovations reflects Xiaomi’s ambition to become a vertically integrated tech powerhouse, blending consumer electronics, mobility, and AI-powered smart hardware into a unified ecosystem.

Google and Volvo Deepen Android Partnership, Bringing Faster AI Features to Cars

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Volvo Cars and Google have announced a significant expansion of their long-standing partnership, with the Swedish automaker now becoming the lead development partner for Android Automotive OS, marking a major leap in bringing advanced digital features and AI to vehicles faster than industry competitors.

Volvo’s head of global software engineering, Alwin Bakkenes, told Reuters that this collaboration will give Volvo customers early access to new Android versions, often years ahead of other carmakers. “This really gives us an edge in building fantastic customer experiences,” he said.

While most automakers lag by two Android versions compared to mobile devices, Volvo is now bridging that gap. The company currently runs Android 13 in its vehicles, but at Google’s annual I/O developer conference this week, the companies showcased Volvo’s flagship EX90 electric SUV operating on Android 15, the latest version of Google’s mobile OS. This version will start rolling out in production vehicles later this year.

The enhanced partnership also gives Google engineers access to real-world driving data by testing software in Volvo cars, accelerating development cycles and improving in-car digital experiences.

One of the biggest highlights from the I/O event was the integration of Google’s Gemini AI model into Volvo cars. The system enables drivers to interact with their vehicle more naturally and intuitively. For example, Gemini can search a user’s emails or messages for a destination, or create a shopping list based on a recipe, all via voice command — transforming the driving experience into a “human-centric” digital journey, according to Bakkenes.

The push to integrate advanced AI and the latest Android OS into cars is part of a broader strategy by Volvo to position itself as a software-driven mobility company, moving beyond traditional car manufacturing.

Wolfspeed’s Shares Plunge to 27-Year Low Amid Uncertainty Over Federal Funding

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Shares of Wolfspeed, a prominent chipmaker, dropped by 50% on Friday, hitting their lowest point since 1998. This significant decline stems from uncertainty surrounding the company’s eligibility for federal funding under the U.S. CHIPS Act. Wolfspeed is awaiting approximately $750 million in subsidies promised by the 2022 bipartisan CHIPS Act, which allocated $52.7 billion in federal funds to boost U.S. semiconductor manufacturing.

However, Wolfspeed’s future funding remains in limbo as the company is left vulnerable to changes in the administration’s stance on the law. President Donald Trump has recently voiced opposition to the CHIPS Act, calling for its repeal in favor of using its funds for debt reduction. This has increased concern over the company’s ability to secure the much-needed funds.

Analysts warn that without the CHIPS Act grant, Wolfspeed may face devastating consequences, including the need for major restructuring. The company had hoped the funding would help it accelerate the production of silicon carbide chips, essential for electric vehicles and renewable energy.

As of Friday, Wolfspeed’s shares were trading at $2.72, marking a 59% decline in value for the year. The company has also made changes in leadership, appointing Robert Feurle as CEO, effective May 1. Additionally, Wolfspeed has secured $865 million in tax credits to strengthen its financial position.