• Xiaomi joined the EV market with its SU7 sedan, which has consistently outsold Tesla’s Model.
• China is the world’s top car-selling country.
• Xiaomi is doubling its efforts in the Chinese mobile phone market.

Xiaomi, the Chinese tech giant, is set to unveil its much-awaited YU7 electric Sports Utility Vehicle (SUV) on Thursday, alongside other innovations, including the Xring O1 mobile chip and the Xiaomi 15S Pro smartphone, according to a statement from the company.

In China, the YU7 aims to compete with Tesla’s top-selling Model Y, given that China is the world’s top car-selling country. Last month, many fans were looking forward to seeing the YU7 at the Shanghai Auto Show, but Xiaomi did not present it which has made people even more eager for it to launch.

Lei Jun, Xiaomi’s founder and CEO, revealed the details of the upcoming event through his Weibo account, noting the YU7, Xring O1 chip and the other smartphone to come. In December 2021, Xiaomi joined the EV market with its SU7 sedan, which outsold Tesla’s Model 3 in China on a monthly basis since December.

Also Read: Qualcomm has launched the Snapdragon 7 Gen 4 to take over from the Snapdragon 7 Gen 3

However, orders for the SU7 have reportedly declined following a fatal accident involving the sedan in March, though it continues to perform strongly, according to analysts.

Apart from EVs, Xiaomi is doubling its efforts in the Chinese mobile phone market, where Huawei and Apple are successful with their custom chips and are offering well-integrated services that make using their products better. On Weibo, Lei mentioned that Xiaomi spent 13.5 billion Yuan ($1.87 billion) on developing Xring O1. Xiaomi’s officials have stated that at least 50 billion Yuan will be used for chip design over the decade that follows 2025.

Xiaomi’s chip-making journey began in 2014, culminating in the launch of its first mobile processor, the 28-nm Pengpai S1, in 2017, which powered the Xiaomi 5C smartphone. Facing challenges, the company later shifted focus to simpler chips, such as those for battery management and imaging. In 2021, alongside its decision to enter the EV market, Xiaomi renewed its commitment to developing advanced mobile processors. “Xiaomi has always had a chip dream because in order to become a great hard technology company, chips are a peak that must be climbed,” says Lei Jun. “We will definitely go all out.”