Xiaomi YU7 Launch: Xiaomi Group Reveals Strategy to Combat Industry Inflation
Company's Efforts to Comply with Government Regulations
On June 27, it was revealed that Le Ebituzheng, the founder and CEO of Xiaomi Corporation, expressed his stance on industry-wide anti-inflation efforts. "Actively responding to regulatory calls, we are uncompromising in our execution of anti-inflation measures," he said.
Launch Details and Sales Performance
The Xiaomi YU7, the company's first major SUV, was launched on June 26, with a price range of CNY 25.35-32.99 yuan (~ USD $3,500-$4,700). Following its launch, officials reported that the vehicle has achieved remarkable sales performance, with over 200,000 units sold within three minutes and over 280,000 units sold within one hour.
CEO's Outlook for Vehicle Sales
Le Ebituzheng noted that he expects Xiaomi YU7's sales to surpass those of its predecessor, Xiaomi SU7. Moreover, he emphasized the need for accelerated delivery times to enable customers to receive their vehicles sooner.
Industry Insights and Strategy
In a wider context, Le Ebituzheng discussed several key points in regards to China's automotive industry:
- The country has emerged as the world's largest automobile manufacturer and consumer market.
- Smart electric vehicles present an "opportunistic pathway" for the industry to catch up with global leaders like Japan, Germany, and South Korea.
However, Le Ebituzheng also acknowledged that, despite enjoying a competitive edge in areas such as chip design and AI technology, there is still room for improvement.
- Enhancing mechanical capabilities.
- Achieving high-end upgrades.
