XIAOMI(HK:01810) Zhong Guo Qi Che Bao Wang·2025-05-23 01:54Core Viewpoint - Xiaomi has officially launched its second vehicle, the YU7, a luxury high-performance SUV, during its 15th anniversary event, positioning it against Tesla's Model Y [2][10]. Product Specifications - The YU7 measures 4999mm in length, 1996mm in width, and 1600mm in height, with a wheelbase of 3000mm. It is available in three versions: the base YU7 (single motor rear-wheel drive), Pro version (dual motor all-wheel drive), and Max version (high-performance all-wheel drive) [4]. - The YU7 boasts a range of 770km for the all-wheel drive version and 760km for the high-performance version, making it the leader in range among mid-to-large SUVs. It features an 800V silicon carbide high-voltage platform for fast charging [4][10]. Market Context - Xiaomi's automotive division has seen rapid growth, achieving sales of 200,000 vehicles within a year of launching its first model, the SU7. However, recent incidents, including a fatal accident involving the SU7, have led to negative publicity and declining sales [7][10]. - Sales figures for Xiaomi vehicles have dropped significantly, with weekly sales falling from 7,000 units to 5,000 units over a few weeks [7]. Strategic Outlook - Xiaomi aims to leverage the YU7 as a catalyst for recovery amidst recent challenges, with expectations that it will help solidify the company's market position in the SUV segment, which holds the largest share in the domestic market [10]. - The company plans to double its R&D investment to 200 billion yuan over the next five years, indicating a commitment to enhancing its technological capabilities [12]. Brand and Consumer Trust - Xiaomi faces the challenge of proving its technical prowess and addressing quality control issues that have plagued its first vehicle, the SU7. The company has acknowledged past production delays and quality concerns, which need to be resolved to regain consumer trust [12][13]. - To rebuild brand credibility, Xiaomi is offering free advanced driving training for the first 10,000 owners, responding to safety concerns raised by recent incidents [13].