Xiaomi ,best known for its smartphones and smart home devices, continues its aggressive expansion into the electric vehicle, unveiling its new YU7 model in Beijing. The debut took place simultaneously at 13 of the company's showrooms in the Chinese capital, with orders scheduled for July.
With the YU7, Xiaomi aims to build on the success of the SU7 – its first sports sedan that has managed to surpass Tesla 's Model 3 in monthly sales (since December). Analysts believe that the new model could pose a serious threat to the Model Y , Tesla's most successful vehicle.
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However, the new launch comes at a challenging time for Xiaomi. Despite the positive momentum, orders for its EVs have declined following negative publicity. Authorities are investigating an accident involving an SU7 in mode assisted driving, and the company was recently forced to apologize for ambiguities in advertising campaigns that sparked consumer backlash.
YU7: The new electric vehicle of Xiaomi
Among the first to rush to see the new vehicle up close was 34-year-old Liu Jiaxing, a technology, who visited Xiaomi's main showroom in Beijing Oriental Plaza to get a first look at the emerald green YU7.
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Liu was impressed by both the car's aesthetics and its gadgets and smart home products Xiaomi's. He said it shows that domestic companies understand the needs and habits of Chinese consumers better than international competitors. He said in the past that he preferred American, German and French brands, but now he emphasizes products and innovation, regardless of brand.
The price of the YU7 remains currently unknown – with official announcements expected in July. However, according to estimates from HSBC Qianhai, the SUV is expected to cost between 230.000 and 330.000 yuan (approximately $32.000 to $46.000). The same analysis predicts that Xiaomi could deliver up to 100.000 units of the YU7 by 2025. For comparison, the Tesla Model Y is available in the Chinese market with a starting price of 263.500 yuan.
Turning to electric cars
More and more automobile manufacturers and technology companies (e.g., Xiaomi) are releasing electric cars, given that a shift to electrification is taking place.
Electric vehicles are more environmentally friendly as they significantly contribute to reducing harmful gas emissions. This can lead to a cleaner atmosphere and an improved quality of life, especially in areas with high levels of air pollution.
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Additionally, electric vehicles are more efficient than conventional cars that use gasoline or diesel. This means they use less energy to move, thus reducing the consumption of natural resources and dependence on fossil fuels.
Finally, the use of electric vehicles can contribute to the promotion of renewable energy. With the increase in demand for electricity, there is the potential for more investment in renewable energy sources, such as solar and wind power, which can generate electricity without emitting pollutants.
Source: www.reuters.com
