Xiaomi to Officially Launch its First Electric SUV, YU7 on June 26

Xiaomi to unveil the YU7 SUV alongside new smart devices on June 26
YU7 pre-orders already three times higher than SU7 during early phase
Final pricing to be confirmed 1-2 days before the launch event

Xiaomi (HKG: 1810, OTCMKTS: XIACY) will officially launch the YU7, its first electric SUV, on Thursday, June 26, a major milestone for its electric mobility strategy.

The event, scheduled for 7:00 pm, will feature the release of the MIX Flip 2 foldable smartphone, Xiaomi Pad 7S Pro in-house Xring O1 chip version, and next-generation personal smart device.

The YU7, which has been highlighted as a direct rival to the Tesla Model Y, captured much attention since its initial debut on May 22. Company Chairman Lei Jun indicated pricing will be announced only 1-2 days prior to the official launch, and clarified that the speculated starting price will not simply be RMB 20,000 above the SU7 nor the widely-discussed RMB 235,900 starting price. From there, the SU7 was Xiaomi's first EV model which was launched in March with a starting price of RMB 215,900.

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Although Xiaomi is a late entrant to the EV market, it has experienced excellent traction. The SU7 made over 28,000 deliveries in May, and customers are still waiting for their vehicles 51 weeks later. According to Xiaomi President Lu Weibing, the YU7 has already exceeded the SU7 in early demand, boom paid reservations are running nearly three times higher in the same time frame.