Xiaomi CEO Lei Jun unveils the company's latest SUV YU7 GT. [Photo provided to chinadaily.com.cn]

Xiaomi, a smartphone company that also dabbles in incredibly quick EVs, just lapped Nürburgring faster in an SUV than anyone else ever has.

The Xiaomi YU7 GT has lapped the Nordschleife in 7:34.93 to claim the title for the fastest SUV around the famous German track after dethroning the Audi RS Q8.

Xiaomi launched a new entry-level YU7 at $32,400, undercutting the Tesla Model Y by $4,350 while offering 50 km more range. A 1,003-HP GT variant also debuted.

The tech giant’s deeper push into China’s competitive EV market with the upgraded YU7 comes as its mainstay smartphone business falters

Xiaomi CEO Lei Jun unveils the company's latest SUV YU7 GT. [Photo provided to chinadaily.com.cn]

Chinese tech company Xiaomi is expanding the YU7 electric SUV range at both ends of the market. The new entry-level True Standard Edition is designed to

The new YU7 Standard Edition costs $4,350 less than the Model Y and goes 50km further. Xiaomi has shipped 600,000 EVs in under two years.