Xiaomi takes aim at Tesla’s bestselling car in China with its longer-range YU7

Key Points

China’s Xiaomi is taking aim at Tesla’s bestselling car in China with the YU7 SUV due for launch this summer.
“We expect Yu7 would significantly erode Tesla Model-Y’s China market share,” Citi analyst Jeff Chung said in a report Sunday.
The YU7 is positioned as a “luxury SUV” and its sales could outperform that of Xiaomi’s SU7, research firm CLSA’s Elinor Leung said.

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