Chinese EV Maker Xiaomi Presells 300,000 EVs in 60 Minutes
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. At this price range, the Model Y will be one of the YU7’s main competitors in China. According to the Beijing, China-based company, the fact that its first electric SUV had 280,000 pre-orders within one hour of launch is a miraculous achievement in the…