Lates News

CICC International released a research report stating that Xiaomi Group-W (01810) founder Lei Jun recently announced that the group's first SUV model YU7 will be launched at the end of this month and is expected to be on the market in July. The report believes that the YU7 has great potential for explosive popularity and will continue the growth trend of SU7. Xiaomi Cars is expected to double its growth next year. The report states that SU7 has not been affected by price wars and demand remains strong. YU7 may have a greater explosive effect than SU7 because its retained user base is three times that of SU7 at the time of its technical release. The report predicts that the starting price of YU7 will be around 250,000 RMB, with its main direct competitors being Tesla Model Y, NIO-SW (09866) EC6, and XPeng Motors-W (09868) G7. CICC International predicts that Xiaomi YU7 will have a stable monthly sales volume of 30,000 to 40,000 units. Xiaomi Cars is expected to sell 350,000 to 400,000 vehicles this year. The combined sales of SU7 and YU7 are expected to reach 50,000 to 60,000 units, and it is hoped to challenge 700,000 to 800,000 units next year. Xiaomi Group is considering launching new models next year, and if production capacity is sufficient, it is expected to break through 1 million vehicles.