Attracting Buyers, Xiaomi YU7 Price Estimated Below Tesla Model Y

Xiaomi YU7 Emerald Green. (Doc: X/@leijun)

JAKARTA - Xiaomi, a technology manufacturer who also takes part in the environmentally friendly vehicle segment, has removed the electric car sheath of the two, namely the YU7 SUV which is a strong challenger for Tesla Model Y.

Quoting from the Carnewschina page, Wednesday, May 28, Xiaomi CEO Jun Lei explicitly said rumors of the initial price of the YU7 SUV of 199,000 yuan or the range of Rp499 million is not true, thus the price will be higher which reflects the advanced technology embedded in the car.

The presence of Xiaomi YU7 in the market is certainly very interesting, especially since this car combines a luxurious interior design, including the 'Hypervision panoramic' dashboard, and is equipped with advanced technologies such as an autonomous driving system thanks to the help of Lidar 700 TOPS.

Launching in July, an important element of Xiaomi's strategy is price. The company must balance competitiveness because YU7 has several potential buyers who are the same as SU7. Setting prices that are too close (to SU7) is certainly risky, and when prices are too high it will also lose customers.

Interestingly, Xiaomi intends to keep YU7 cheaper than the Tesla Model Y, which is currently priced at 263,500 to 313,500 yuan or around Rp595-708 million. Thus, the price could be below that.

The strategy was previously also applied to its first electric sedan model, SU7, to take the market share of the Tesla Model 3 in the Chinese automotive market and was successful.

It is estimated that the initial price of Xiaomi YU7 will be in the range of 245,900 yuan or Rp555 million, or slightly more expensive than the SU7 at 215,900 yuan or around Rp488 million.