Xiaomi YU7 Surpasses 3.15 Lakh Orders in 72 Hours, Emerges as Tesla Model Y Rival

Xiaomi’s second foray into electric vehicles—the YU7 crossover—has generated unprecedented demand in its home market. Priced competitively and loaded with features, the YU7 has raced past 2.8 lakh orders within 72 hours of its June 26 booking launch, setting a new benchmark for China’s EV industry.

From SU7 to YU7: Xiaomi’s Rapid EV Expansion

After debuting the SU7 sedan in March 2024, Xiaomi wasted no time expanding its lineup. The YU7—a family‑oriented crossover—arrived on June 26, backed by Xiaomi’s strong brand cachet and aggressive pricing strategy. Bookings opened simultaneously across 351 Xiaomi EV retail outlets nationwide.

Record‑Breaking Initial Order Volumes

Within just 18 hours, industry estimates put YU7 orders at 2.40 lakh units, climbing to 2.89 lakh by the 24‑hour mark. By 72 hours, total orders ranged between 2.81 lakh and 3.16 lakh, according to sources close to Reuters. Xiaomi has not officially confirmed these figures, but the numbers outpace rival launches and underscore tremendous consumer interest.

Tesla Model Y Comparison: A Rival Challenged

Tesla’s Model Y—long China’s top‑selling EV—registered about 2.40 lakh bookings in its first 18 hours and 2.89 lakh in 24 hours. The YU7’s similar or higher order tally arrives at a 4% lower starting price (CNY 253,500 vs. CNY ~263,000 for the Model Y), putting pressure on Tesla’s market share in its largest market.

Booking Network and Consumer Sentiment

Xiaomi’s 351‑strong dealership network ensured widespread access from day one. At a Beijing showroom, crowds gathered around the YU7, including existing Tesla owners evaluating a second EV purchase. One visitor, a 26‑year‑old finance professional, cited the SU7’s reliability as the key factor in choosing Xiaomi for his father’s next vehicle.

Aggressive Pricing Undercuts Competition

At CNY 253,500 (approx. ₹30.2 lakh), the YU7 undercuts the Tesla Model Y by nearly 4%, while offering a 96.3 kWh battery (versus 78.4 kWh) and an estimated 835 km WLTP range (vs. 719 km). It also includes complimentary driver‑assist software and practical touches like under‑seat storage—features that add value relative to Tesla’s paid FSD package (64,000 yuan).

Market and Stock Impact

Xiaomi’s share price reacted positively to the YU7 buzz, surging 8% intraday to an all‑time high before settling 3.6% higher. Year‑to‑date gains exceed 70%, lifting the company’s market capitalization to $190 billion, the top‑performing large‑cap in the Asia‑Pacific region, per LSEG data.

Tesla’s China Challenge Intensifies

Tesla’s Chinese market share has slipped from 15% in 2020 to 7.6% in early 2025, as domestic brands compete on price and features. Citi analysts recommend Tesla consider price cuts, free FSD trials, or attractive financing to defend its position against aggressive challengers like Xiaomi.

YU7 vs. Model Y: Spec‑for‑Spec Highlights

Conclusion: Xiaomi’s Rising EV Ambitions

The YU7’s record bookings demonstrate Xiaomi’s ability to leverage brand loyalty, competitive pricing, and a nationwide retail footprint to disrupt established players. As the YU7 moves toward production and deliveries, Tesla and other incumbents will need to respond aggressively to maintain their foothold in China’s fiercely competitive EV market.