Xiaomi is set to officially launch its second electric vehicle, the YU7 SUV, by the end of June, following a strong reception from prospective buyers since its debut in May.
“We are preparing, see you at the end of the month!” Xiaomi founder and CEO Lei Jun wrote in a post on Chinese social platform Weibo.
The YU7 was first unveiled on May 22, with display units appearing in Xiaomi’s headquarters in Beijing a week later. As of June 13, the model is showcased at 317 Xiaomi EV stores across 86 cities, according to the company.
Lei told investors earlier this month that pricing for the YU7 would only be finalized one to two days before launch. He dismissed market speculation suggesting a starting price of RMB 235,900 ($32,500), adding that the new SUV would not simply be priced RMB 20,000 ($2,780) above the company’s SU7 electric sedan.
The SU7, Xiaomi’s debut EV model launched on March 28, begins at RMB 215,900 ($29,700) and has recorded monthly deliveries of over 20,000 units. The company expects its EV division to become profitable by the second half of 2025.
Xiaomi president Lu Weibing said the YU7 had outperformed the SU7 in terms of pre-launch interest. “As of May 25, the number of users who paid a deposit for the YU7 was about three times that of the SU7 during the same period,” Lu said during Xiaomi’s earnings call on May 27.