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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.

Waymo to Expand Robotaxi Operations to Miami by 2026

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Waymo, the Alphabet-owned autonomous vehicle company, is preparing to launch its robotaxi service in Miami. The company announced on Thursday that it will begin testing its self-driving vehicles in the city with human safety drivers in 2025, with plans to open its fully autonomous ride-hailing service to the public by 2026 via the Waymo One app.

This move highlights Waymo’s growing confidence in operating its autonomous vehicles in challenging weather conditions, a significant milestone for scaling its operations in major metropolitan areas across the U.S.

Building Expertise in Adverse Weather

Waymo’s decision to target Miami follows earlier testing in the city in 2019, during which the company focused on refining its vehicles’ ability to handle wet and rainy conditions.

“We deepened our learning and understanding of the Waymo Driver’s performance in adverse weather conditions,” a spokesperson for the company said.

When Waymo resumes operations in Miami in 2025, it will deploy its all-electric Jaguar I-PACE fleet. The initial service territory will encompass select parts of Miami’s larger metropolitan area, home to over 6 million people.

Recent Expansion and Strategic Partnerships

Waymo’s Miami plans come amid rapid nationwide growth. In November, the company removed its waitlist of 300,000 people in Los Angeles, making its robotaxi service available to all across nearly 80 square miles. It also operates citywide in Phoenix and San Francisco, offering more than 150,000 paid rides weekly through the Waymo One app.

In September, Waymo partnered with Uber in Austin and Atlanta to integrate its robotaxis into the Uber app starting in 2025. Uber will oversee fleet management and vehicle maintenance under the partnership.

Waymo also announced a new collaboration with mobility company Moove, which will handle fleet operations, charging, and facilities for Waymo vehicles in Miami and Phoenix. Moove will begin managing Waymo’s Phoenix fleet in early 2025.

Funding and Competition

Waymo secured $5.6 billion in funding in October, led by parent company Alphabet and backed by investors like Andreessen Horowitz, Fidelity, and Silver Lake. These funds are driving the company’s expansion across the U.S.

While Waymo leads in commercial robotaxi operations across multiple cities, competition is intensifying.

  • Cruise (owned by GM) is working to resume services after halting operations following a pedestrian-injury accident in San Francisco.
  • Tesla plans to launch a self-driving ride-hailing service by 2025 but still classifies its current Full Self-Driving system as partially automated.
  • Amazon-owned Zoox and SoftBank-backed Wayve are testing autonomous vehicles, with Zoox focusing on cars without steering wheels.

What’s Next for Waymo

With Miami as its next target, Waymo continues to solidify its position as a leader in autonomous transportation. The company’s expansion underscores its ambition to operate in diverse environments, making robotaxis a reliable and accessible mode of transportation for millions across the U.S.

Xiaomi Boosts EV Delivery Targets Amid Surging Demand

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Increased Goals Reflect Growing Market Success

Xiaomi Corp has raised its 2023 electric vehicle (EV) delivery target for the third time, now aiming to deliver 130,000 units of its debut SU7 sedan. This is a significant increase from its initial goal of 76,000 when the car launched in March.

The SU7, inspired by Porsche designs, has captivated buyers with a starting price below $30,000, undercutting Tesla’s Model 3 in China by $4,000. Xiaomi’s success reflects broader trends in China’s EV market, where electric and plug-in hybrid vehicles accounted for over half of October’s auto sales, a 56.7% year-on-year increase.

Scaling Production to Meet Demand

Xiaomi has ramped up production since June, doubling shifts at its factories and introducing the premium SU7 Ultra, priced above $110,000. The company’s manufacturing facilities now have a capacity of 20,000 units per month, with room for further growth.

President Lu Weibing highlighted Xiaomi’s continued investment in both hardware and software to support new models and autonomous driving technology.

Financial Performance and Market Position

In the third quarter, Xiaomi reported revenue of 92.5 billion yuan ($12.77 billion), surpassing analysts’ expectations of 91.1 billion yuan. However, its EV unit remains unprofitable, recording a loss of 1.5 billion yuan for the quarter, despite a 17.1% gross profit margin.

Xiaomi’s smartphone division remains a cornerstone of its business, maintaining its rank as the world’s third-largest smartphone maker with a 14% market share and 42.8 million units shipped in Q3.

The company’s adjusted net profit rose 4.4% to 6.25 billion yuan, exceeding market estimates of 5.92 billion yuan.

Future Projections and Market Expansion

Analysts at Huatai Securities forecast Xiaomi will deliver 400,000 EVs in 2025, with EV sales projected to contribute 20% of revenue, compared to 8% this year. To support growth, Xiaomi plans to expand its retail footprint in mainland China from 13,000 to 15,000 stores by year-end and to 20,000 by 2024.

The company’s strategic push into EVs demonstrates its ambition to diversify revenue streams and solidify its position in the competitive Chinese market.