Bookings started from 26 June
According to Reuters, this car, which competed with Model Y, obtained 2.40 lakh orders within 18 hours and 2.89 lakh orders within 24 hours. Booking of YU7 is currently running at all 351 Xiaomi EV retail stores across China. Xiaomi opened bookings for EV from 26 June.
The official announcement was not done
However, we cannot verify these cell numbers because, Xiaomi has not yet officially shared the official number of orders found. Due to the aggressive price tag with a cut of about 4 percent, Model Y is getting a tough competition in China. According to analysts, this competitive pricing will further decline in Tesla's market share.
Share also all time high
Xiaomi's stock gave a positive reaction to the discussion around its latest EV launch. The stocks grew up to 8% during early trade, which reached an all -time high, and then closed 3.6% more. So far this year, stock has increased by more than 70%, causing Xiaomi's market evaluation to about $ 190 billion. According to LSEG data, it makes it the best performing large-cap stock in the Asia-Pacific region.
China Tesla's largest market
China, based on the sales data of Q1 2025, remains the largest market in Tesla. Last year, the country contributed about 20 percent of Tesla's total revenue. However, as Xiaomi is creating waves with its EV offering, competition is getting faster. Xiaomi CEO Lei Jun admitted that Tesla is still ahead in driver aid technology, but emphasized areas where Xiaomi Yu7, Tesla is better than Model Y.