Xiaomi banks on premium: the YU7 crossover to be more expensive than anticipated

Xiaomi CEO Lei Jun made it clear: the company does not intend to join the price war engulfing the Chinese car market. The brand's new electric crossover, the YU7, which was announced on May 22, will cost more than analysts had predicted. It was expected that the model would be priced at 235,900 yuan (around $33,000), but the final price will be higher.

While other players (BYD, Geely, Chery) are enticing customers with discounts, Xiaomi is taking a different route. As Lei Jun explained, the price difference between the SU7 sedan and the YU7 crossover will be only 20,000 yuan. This means the cost of the new model will exceed forecasts. Experts do not exclude that the YU7 may compete with the Tesla Model Y (from 263,500 yuan / $37,000).

What YU7 offers

Base configuration:

• Range — 835 km (according to CLTC cycle).
• Acceleration to 100 km/h in 5.88 seconds.
• LFP battery with a capacity of 96.3 kWh.

Max version:

• Dual-chamber air suspension.
• Brembo braking system.
• To 100 km/h — in 3.23 seconds.

When to expect the release?

The exact price will be announced a day or two before sales start. For now, the crossover can be seen at 56 Xiaomi Auto showrooms in Beijing, Shanghai, Hangzhou, and Chengdu. After the Greater Bay Auto Show, presentations will be held in 92 cities.