Core Insights - Xiaomi's founder and CEO Lei Jun addressed concerns regarding the pre-order data for the Xiaomi YU7 and competition from other car manufacturers during a live stream [1][4] Group 1: YU7 Pre-order and Sales Data - The Xiaomi YU7 received a strong market response, achieving 200,000 pre-orders within 3 minutes and 289,000 within an hour, marking a significant milestone in China's automotive history [2] - Lei Jun clarified that the 7-day return policy is standard in the industry, and the actual number of order transfers for the YU7 is less than 15% of total orders [2][4] - The 18-hour non-cancellable lock order reached 240,000, but the 24-hour figure was not disclosed to avoid further speculation [2] Group 2: Competition and Market Position - Lei Jun responded to claims from rival companies offering to subsidize deposits for customers who cancel YU7 orders, emphasizing that each product has its strengths and encouraging competitors to focus on their advantages [4] - The current lock order numbers for the YU7 exceeded expectations, and Lei Jun suggested that consumers consider other domestic electric vehicles if they need a car urgently [4] Group 3: User Demographics and Preferences - The average age of YU7 pre-order customers is around 33, with a 30% female ownership rate, which is higher than the previous model [4] - Apple users constitute 52.4% of YU7 customers, indicating a strong alignment with the Apple ecosystem [4] - The top three cities for YU7 sales are Shanghai, Hangzhou, and Beijing, which are also the best-selling locations for Tesla's Model Y [4] Group 4: Future Plans and Product Strategy - Lei Jun stated that Xiaomi has no plans to export vehicles until domestic delivery issues are resolved, with a potential timeline for exports around 2027 [6] - There are no plans for a Redmi car or for bicycles and motorcycles, indicating a focused strategy on the automotive sector [6]