Xiaomi Shares Surge to Record High as New YU7 Electric SUV and AI Glasses Impress Market

Hadisur Rahman, JadeTimes Staff

H. Rahman is a Jadetimes news reporter covering Business

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Image Source: Feature China | Getty Images

Shares of China’s Xiaomi Corp. soared over 5% on Friday to reach a record high on the Hong Kong Stock Exchange, driven by overwhelming consumer response to its newly launched electric SUV and a suite of artificial intelligence-powered products.

The tech giant, best known for its smartphones and smart home appliances, made headlines Thursday with the unveiling of its YU7 electric vehicle (EV), a direct competitor to Tesla’s popular Model Y. Within just three minutes of the launch, Xiaomi reported receiving over 200,000 pre-orders for the YU7, signaling strong market enthusiasm for the company’s growing presence in the EV space.

Xiaomi CEO Lei Jun revealed that the starting price of the YU7 is 253,500 yuan ($35,322), undercutting Tesla’s Model Y in China by 10,000 yuan. “We are not just offering affordability we’re offering superior value,” Lei said during the launch event.

Equipped with a minimum driving range of 760 kilometers (472 miles) per charge, the YU7 outpaces the 719 kilometers advertised for Tesla’s extended-range Model Y. Though Lei admitted Tesla still leads in driver-assist features, he emphasized that Xiaomi’s most advanced version of the system is powered by Nvidia’s cutting-edge Thor chip.

Citi analysts had previously forecast that the YU7 would be priced between 250,000 and 320,000 yuan, predicting monthly sales of 30,000 units and annual volumes ranging from 300,000 to 360,000 once production scales.

The YU7 follows Xiaomi’s SU7 sedan, launched last year and also priced below Tesla’s comparable Model 3. The SUV's early launch originally slated for July comes as the electric vehicle market in China experiences a fierce price war, pushing manufacturers to accelerate product rollouts and sharpen their competitive edge.

Deliveries of the YU7 are expected to begin within one to five weeks of pre-sales, which opened at 10 p.m. Thursday. The vehicle includes advanced AI-enabled features such as gesture-controlled music, location-based services through a connected app, and integration with Apple CarPlay and Apple Music.

In addition to the YU7, Xiaomi introduced a new pair of AI-powered smart glasses that rival Meta’s Ray-Ban offering. Priced at 1,999 yuan ($279), the glasses come with dynamic lens tinting, QR code scanning for payments, and voice-activated features. They can also take photos and videos, recognize flowers, and translate text in real time.

“These AI glasses represent our next step in integrating intelligence into everyday life,” said a Xiaomi spokesperson, though they confirmed that the product will be limited to the domestic Chinese market for now.

Xiaomi’s push into electric vehicles and wearable AI tech signals a bold pivot beyond its traditional consumer electronics base. Investors responded positively, driving the company’s stock to a new high and reaffirming confidence in its long-term vision.

As the EV market continues to evolve and consumer demand for AI-powered innovations rises, Xiaomi is rapidly positioning itself not only as a formidable tech company but also as a serious challenger in the electric mobility space.