Xiaomi’s new $34,500 electric SUV goes farther than a Tesla Model Y and costs less
Xiaomi has launched the YU7 Standard Edition electric SUV, priced at approximately $34,300. This new model is about $4,350 cheaper than the Tesla Model Y, which Xiaomi hopes will attract more buyers. The CEO, Lei Jun, acknowledged that the previous pricing strategy was not compelling enough to compete with Tesla in China.
- ▪The YU7 Standard Edition is priced at 233,500 yuan, making it more affordable than the Tesla Model Y.
- ▪The price difference of 30,000 yuan is intended to make the YU7 more appealing to consumers.
- ▪Xiaomi's CEO Lei Jun identified pricing as a key factor in the YU7's sales performance compared to Tesla.
Opening excerpt (first ~120 words) tap to expand
Xiaomi CEO Lei Jun had a straightforward reason for why the YU7 wasn’t outselling the Tesla Model Y in China: the base model wasn’t cheap enough. At just 10,000 yuan ($1,450) less than Tesla’s Model Y, the price gap simply wasn’t compelling enough. On the evening of May 21, at Xiaomi’s “Human x Car x Home” launch event, Lei did something about it (via CarNewsChina). CarNewsChina / Xiaomi Introducing the Xiaomi YU7 Standard Edition The new True Standard Edition is priced at 233,500 yuan, about $34,300, which makes it 30,000 yuan ($4,350) cheaper than the standard rear-wheel-drive Model Y.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Digital Trends.
Discussion
0 commentsMore from Digital Trends
