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Chinese EV Maker Xiaomi Presells 300,000 EVs in 60 Minutes

July 07, 2025 at 10:05 AM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Xiaomi, the Chinese tech giant that recently made its foray into manufacturing battery electric vehicles (BEVs), received nearly 300,000 pre-orders just an hour after launching a new EV. Dubbed the YU7, Xiaomi’s 5-seater electric car is its second mass-market electric car and will cost $54,000 (253,500 yuan), almost 4% cheaper than the best-selling Tesla Model Y.

As more companies enter the BEV space and carve out a market for themselves, there is likely to be an uptick in the adoption of renewable energy to charge these BEVs, and that could trigger a commensurate expansion in the market served by companies like SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2)…

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