Xiaomi introduces the new SU7 SUV; competitors are stunned as over 200,000 units are sold in just 3 minutes.

Xiaomi officially launched its second electric vehicle, the SU7 SUV, at an event in Beijing and announced that over 200,000 units were sold within the first 3 minutes of the launch. The price of the SU7 starts at 253,500 yuan (about $35,300), which is 10,000 yuan (about $1,400) cheaper than the Tesla Model Y.

Prospective buyers can place a booking with a refundable deposit of 5,000 yuan ($700). Those who put down a 20,000 yuan deposit will have the opportunity to be the first to receive the limited edition models.

Xiaomi’s CEO, Lei Jun, stated that he predicts demand for the YU7 will be about three times higher than for the SU7 sedan, which was released in 2024. The SU7 itself received nearly 90,000 orders on its first day of sale and has delivered over 270,000 units to date. The YU7 will be available in three models: Standard, Pro, and Max. Prices will range from over 250,000 yuan to over 300,000 yuan ($35,300 to $46,000).

The Standard model comes with rear-wheel drive (RWD) and can travel up to 830 km on a single charge. It takes only 5.88 seconds to accelerate from 0 to 100 km/h. The Pro model features an all-wheel drive (AWD) system and has a range of about 770 km on a full charge. The Max model boasts up to 681 horsepower and can reach 100 km/h in just 3.23 seconds.

The YU7 is a 5-seater SUV that also includes a fast-charging system. It is very convenient, as it can charge the battery from 10% to 80% in just 12 minutes. This car poses a major challenge to the Tesla Model Y, whose sales have dropped by about 24% in the Chinese market this year. It will also have to compete fiercely with other rivals like the BYD Sealion 07, Zeekr 7X, Xpeng G7, and Onvo L60.

Ref: Tech Explorers