Hyperdrive
Xiaomi Teases Tesla-Like SUV for Summer in Big EV Expansion
- CEO Lei Jun promises a launch around June or July 2025
- Company has secured site in Beijing to expand EV production
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Xiaomi Corp. showed off a new SUV it plans to sell around the summer of 2025, intensifying an effort to take on Tesla Inc. and BYD Co. in the world’s biggest electric vehicle arena.
Billionaire founder Lei Jun unveiled the YU7, a sport utility vehicle similar to Tesla’s Model Y, in a Weibo post. The 5 meter-long car is a pure electric SUV, fitted with a nickel-cobalt-manganese battery to be made by Contemporary Amperex Technology Co. Ltd. The motor will have a peak power of 220kW or 288kW, according to a separate notice from China’s Ministry of Industry and Information Technology.