Xiaomi's YU7 EV competes with Tesla Model Y

Xiaomi's new electric SUV, the YU7, will launch this summer with a range of up to 478 miles and a 96.3 kWh battery. It aims to compete directly with Tesla's Model Y, which recently improved its range. The YU7 will offer various configurations, including single and dual-motor options. The dual-motor version can reach a top speed of 253 km/h, while the single-motor version has a top speed of 240 km/h. Xiaomi's entry into the electric vehicle market comes as Tesla faces declining popularity in China. The YU7's launch follows a significant rise in Xiaomi's stock, reflecting investor confidence in its electric vehicle strategy.