XIAOMI(HK:01810) Qian Zhan Wang·2025-06-17 10:35Core Insights - Xiaomi's upcoming electric vehicle, the YU7, has generated significant user interest, with pre-registration numbers three times that of the SU7 during its tech release [2][3] - The YU7 is positioned as a high-end electric SUV, featuring advanced technology and luxurious configurations, and is expected to be priced competitively against models like the Tesla Model Y [3][4] - Since its entry into the electric vehicle market in 2021, Xiaomi has rapidly established itself, achieving a cumulative order volume of 248,000 vehicles within nine months of launching its automotive business [4] Market Position and Strategy - Xiaomi's automotive strategy involves a comprehensive approach, including investments in startups, in-house research and development, and deep collaborations with suppliers to build a complete ecosystem for smart vehicles [4] - The company has invested 105 billion yuan in its automotive venture, with plans to increase this to over 30 billion yuan by 2025, emphasizing the importance of substantial investment in technology and product development [8] Industry Context - The Chinese electric vehicle market is experiencing unprecedented growth, with production reaching 12.888 million units in 2024, a year-on-year increase of 34.4% [5] - The overall automotive market in China is expected to show steady progress, with the penetration of electric vehicles in both passenger and commercial segments becoming more normalized [8]