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.

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