Key Takeaways:
- Xiaomi YU7 GT deliveries start May 29 with Lei Jun livestream event
- YU7 series surpassed 230,000 units delivered in 10 months
- Xiaomi EV Q1 revenue reached 19 billion yuan on 80,856 deliveries
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Xiaomi YU7 GT deliveries begin Friday after 230,000 YU7 units sold
Xiaomi's YU7 GT deliveries begin Friday, adding a high-performance variant to a lineup that has sold more than 230,000 units in 10 months, as the smartphone maker pushes deeper into premium EVs.
"Tomorrow at 10:30 am, I'll join Shu Qi to hand over the first batch of YU7 GT vehicles to owners and tour the factory together," Lei Jun, founder and chief executive officer of Xiaomi, said in a social media post.
The YU7 GT, developed with Xiaomi's European R&D center, set a sport utility vehicle lap record at the Nürburgring Nordschleife at 7 minutes and 22.755 seconds. The variant arrives as Xiaomi's automotive business reported 19 billion yuan ($2.6 billion) in smart EV revenue for the first quarter, with 80,856 vehicles delivered — up 6.6% from a year earlier.
The delivery milestone intensifies competition in China's premium EV segment, where Xiaomi's SU7 ranked first in pure electric sedan sales above 200,000 yuan from January through April. Xiaomi has hired engineering talent from Porsche, Lamborghini, Mercedes-Benz and BMW for its European R&D center, laying groundwork for overseas expansion.
Xiaomi's automotive business is gaining financial scale. The company's innovative business segment — covering smart EVs and AI — generated 19.9 billion yuan in Q1 revenue, up 6.9% year-on-year. Cumulative deliveries surpassed 655,000 units by April 23, with the new-generation SU7 delivering 26,000 units in just 35 days and locked orders exceeding 80,000 during the initial sales period.
On the technology front, Xiaomi released the XLA cognitive large model architecture in March, shifting advanced driving assistance from perception-based systems to reasoning-based ones. The system was upgraded to Xiaomi OneVL in May, which the company says is the first to unify vision-language-action models, world models and latent space reasoning. Xiaomi's humanoid robots also began hands-on training in the auto factory in March, marking an entry into physical artificial intelligence.
The YU7 GT enters a segment where Tesla's Model Y Performance and Nio's ES6 compete for buyers in China's premium crossover market. Xiaomi shares traded 0.6% higher in Hong Kong on Thursday. UBS recently cut its price target on Xiaomi to HK$34.5 while maintaining a neutral rating, citing lower earnings forecasts. The YU7 GT's Nürburgring record positions it as a performance-oriented alternative as China's EV market faces intensifying price competition.
This article is for informational purposes only and does not constitute investment advice.
