Xiaomi unveiled its second electric vehicle, the YU7 SUV, according to CNBC. The company claims it has a driving range of 472 miles, surpassing Tesla’s Model Y in China. Positioned as a luxury SUV, the YU7 is expected to erode Tesla’s market share, according to Citi analyst Jeff Chung. Citi expects the YU7 to be priced between $34,700 and $44,420, with projected annual sales reaching 360,000 units. The YU7 is positioned to compete with Tesla’s Model Y, with Xiaomi set to reveal its price at the official launch in July.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Naomi unveiled its second electric vehicle, the YU7 SUV, according to CNBC.
00:08The company claims it is a driving range of 472 miles, surpassing Tesla's Model Y in China.
00:13Positioned as a luxury SUV, the YU7 is expected to erode Tesla's market share,
00:17according to city analyst Jeff Chung.
00:20The city expects the YU7 to be priced between $34,700 and $44,420,
00:26with rejected annual sales reaching up to 360,000 units.
00:30The YU7 is positioned to compete with Tesla's Model Y,
00:33which Naomi is set to reveal its price at the official launch in July.
00:37For all things money, visit Benzinga.com slash GSTV.