On the evening of December 9, Xiaomi Motors announced its second model, the Xiaomi YU7, which is expected to be officially launched in June or July next year.
At the same time, founder Lei Jun began to generate excitement for the new car, explaining why he applied for the Ministry of Industry and Information Technology's new car catalog so early. He said that Xiaomi Motors hopes to remove the heavy camouflage from the YU7 test car as soon as possible. "This will help us conduct more comprehensive, detailed, long-term, and large-scale testing to ensure product quality and create better products."
This morning, Lei Jun revealed again that the Xiaomi YU7 is currently undergoing large-scale road testing.
According to public information from the Ministry of Industry and Information Technology, the dimensions of the Xiaomi YU7 are 4999mm (length), 1996mm (width), and 1600mm (height), with a wheelbase of 3000mm.
The new car is positioned as a pure electric model, using CATL's ternary lithium-ion battery and Bosch's ABS anti-lock braking system. It is also equipped with a dual-motor system from Suzhou Huichuan United Power System, delivering 220kW and 288kW of power, respectively, and has a maximum speed of 253 km/h.
Goldman Sachs Bank immediately issued an analysis of the Xiaomi YU7, noting that based on the disclosed specifications, performance, and endurance, it has a positive outlook on the demand prospects for the YU7. The bank believes that the Xiaomi YU7 has the potential to become one of China's best-selling high-end new energy SUVs.The price of Xiaomi YU7 will start at US$30,000.
Goldman Sachs also stated that since the launch of Xiaomi Auto's first model, the SU7, in March this year, its performance has exceeded the bank's original expectations, "continuing to consolidate its leadership as one of the best-selling premium BEV sedans."
As of November, the Xiaomi SU7 had delivered 100,000 units, surpassing the bank's original annual target of 100,000 units ahead of schedule. As a result, Lei Jun announced that Xiaomi Auto has raised its sales target this year to 130,000 units. According to auto blogger Sun Shaojun, the order volume has exceeded 5,000 units per week, and the delivery period has stretched to 5 months. As long as Xiaomi Motors ensures its production capacity meets expectations, achieving its annual target will not be a challenge.
In 2025, Xiaomi Motors aims to double its sales, with a forecast of 360,000 vehicles.
According to its financial report, Xiaomi's smart electric vehicles and other innovative businesses generated total revenue of 9.7 billion yuan in the third quarter, with a gross profit margin of 17.1% and an adjusted net loss of 1.5 billion yuan, narrowing from the previous quarter.