被友商背刺的小米，要打三张牌

Core Viewpoint - Xiaomi's YU7 faces significant production capacity challenges shortly after its launch, which competitors are exploiting to gain market share against the Model Y [2] Group 1: Market Competition - Several brands, including Zhiji, NIO, Zeekr, and others, have initiated strategies to capture market share from Xiaomi's YU7, which is positioned against Tesla's Model Y [2] - In 2024, a major campaign by six domestic automakers aimed to challenge the Model Y, but Tesla maintained its leading position despite the competition [2] - Xiaomi's YU7 is considered the strongest challenger to the Model Y, with significant emphasis placed on this comparison during its launch events [2] Group 2: Xiaomi's Competitive Advantages - Xiaomi has substantial financial resources, reporting a total revenue of RMB 111.3 billion in Q1 2025, with adjusted net profits of RMB 10.7 billion, and a strong performance in its smart electric vehicle segment [3] - The company has effective supply chain management, with a payment cycle of 99 days, significantly lower than the automotive industry average of 170 days, allowing for better supplier relationships and cost savings [3] - Xiaomi is the only domestic automaker with a comprehensive "vehicle-home ecosystem," leveraging its AIoT platform, which connects 900 million devices, enhancing the integration of smart home features with its vehicles [4]