Smartphone maker Xiaomi showed off the YU7 at an event in Beijing on Thursday, with the electric SUV set to compete directly with Tesla’s best-selling Model Y. Xiaomi did not say how much the YU7, its second EV, will cost. In a social media post before the unveiling, CEO Lei Jun said the SUV would go on sale in July. The YU7 threatens to pile the pain on Tesla, which is already battling underwhelming sales in China amid brutal competition from local rivals.While both Xiaomi cars are only available in China, that may not be the case for long. Xiaomi confirmed in March that it aimed to sell EVs in overseas markets by 2027. Do you think that China is taking over EV marketss?
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