Electric Vehicle

A leaked image suggests Xiaomi is developing a mid-to-large size SUV with a range extender powertrain, potentially launching as early as 2026. The heavily camouflaged prototype, spotted alongside a Xiaomi SU7, showcases a more robust design. This move expands Xiaomi’s product line beyond the current all-electric SU7 and YU7 series, aiming to attract consumers seeking extended driving range. Xiaomi Auto has delivered over 300,000 units, with nearly 170,000 in 2025, and targets 350,000 annually. The SUV introduction could solidify Xiaomi’s position in the EV market.

Videos circulating online show BYD Chairman Wang Chuanfu visiting the Xiaomi Auto factory, accompanied by Xiaomi CEO Lei Jun. Lei acted as Wang’s “tour guide,” hinting at closer ties between the tech and auto giants. The presence of Shunwei Capital’s Hu Zhengnan further emphasizes the visit’s strategic nature. BYD already supplies batteries for Xiaomi’s SU7, and Wang has publicly supported Xiaomi’s EV venture. This visit may indicate an expansion of their partnership or new alliances in the EV market.

A fake movie poster for “Pegasus 3” featuring Xiaomi CEO Lei Jun and the SU7 went viral, fueling speculation about his acting debut. The poster used an image from Lei Jun’s drifting practice while learning to drive the SU7. Xiaomi’s PR General Manager Wang Hua confirmed the poster was inauthentic. Lei Jun’s drifting skills, showcased in a video, are part of his commitment to understanding the automotive industry. He aims to be a top CEO driver.

Faraday Future (FF) has secured $105 million in funding to boost production of its upcoming FX Super One model and advance its AI technology roadmap. The package includes $82 million in new unsecured convertible notes and warrants. Existing investors, including Master Investment Group, and new institutions participated. Terms are more favorable compared to previous rounds. FF’s CEO Jerry Wang stated the financing will enhance the company’s ability to deliver the FX Super One and establish FF as a leader in intelligent electric mobility.

California American Water and the American Water Charitable Foundation awarded a $25,000 grant to the San Marino Fire Department for Southern California’s first all-electric emergency response vehicle, enabling multi-agency coordination across 23 municipalities. This EV mobile command center, supported by the LAFD Foundation, aligns with California’s 2035 zero-emission mandate and enhances climate-resilient disaster preparedness. The initiative reinforces partnerships between water utilities and emergency services, with the Foundation’s “Keep Communities Flowing” program investing over $20 million since 2012 in water security and infrastructure resilience nationwide.

Xiaomi founder Lei Jun promotes the new YU7 EV, highlighting its impressive range and performance. The YU7 Standard Edition achieved the top spot in the EasyCar Endurance Test for SUV models, with a 784km real-world range. A 24-hour endurance test saw the YU7 Max cover 3,944km, showcasing its power, charging, and durability. This aggressive marketing approach signals Xiaomi’s ambition in the EV market.

Xiaomi’s new YU7 EV has generated a secondary market surge, with pre-order slots trading at a premium. Long delivery times, up to 56 weeks for standard models, fuel speculation and urgency. The scarcity, coupled with hype, allows early buyers to resell slots at significant markups. While unofficial transactions flourish, official timelines are only provided to confirmed order holders, creating uncertainty for potential buyers. The YU7’s success highlights the competitive EV market and the demand for quick access to desirable models.

Xiaomi’s upcoming YU7 electric vehicle is generating intense market anticipation. Pre-emptive rental offers are appearing on secondary platforms, with daily rates potentially reaching 6,000 yuan, exceeding those of luxury cars like the BMW M5 and Bentley Flying Spur. Early adopters are anticipating high demand, mirroring the SU7 launch where initial rental prices were also high. However, experts predict significant early price volatility.

BYD, a leading Chinese EV maker, is expanding globally by significantly investing in its car carrier fleet. The company has received its fifth carrier, “Xi’an,” and the “Changsha” is set to launch, both with a capacity of 9,200 vehicles. This builds on existing vessels, supporting BYD’s strong export growth, with exports up 133.8% year-over-year in April and exceeding 293,000 units cumulatively for the first four months, solidifying its position in the competitive EV market.

Xiaomi’s founder, Lei Jun, lauded Beijing’s role in the success of their EV venture. He credited the city’s business environment, industrial foundation, and supportive ecosystem. The upcoming Xiaomi YU7, scheduled for a July launch, is generating significant pre-order interest, surpassing even the SU7’s initial demand.