Xiaomi unveiled the YU7 compact crossover on May 22, with plans to start sales in July. The Chinese carmaker opened the order books earlier than expected, with a starting price of 253,500 yuan (about $35,300). This puts it just 10,000 yuan ($1,395) below the Tesla Model Y, still the market leader and the car to beat.
Xiaomi officially debuted the sales of the highly anticipated YU7 compact crossover, which will be Tesla Model Y's direct competitor in China. Xiaomi CEO Lei Jun announced earlier that the YU7 would be positioned as a high-performance luxury SUV with a price to match, and he wasn't joking. The YU7 entry model is priced similarly to the Model Y RWD, being only 10,000 yuan ($1,395) cheaper.
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