Xiaomi Auto SUV Unveiled and Named YU7, Tesla Plans to Launch Compact SUV in China | Overseas Daily

"Top 3 News"

Xiaomi Automobile's New SUV Named YU7, Planned to Be Released Next Summer, Challenging Tesla Model Y

Key Points:

Xiaomi Automobile, a Chinese tech giant, is continuously expanding its influence in the electric vehicle industry. After announcing earlier this year that it is developing an SUV model to compete with the Tesla Model Y, Xiaomi Automobile has finally unveiled this new model and announced that it is named YU7. Xiaomi Automobile ended its breakthrough year in 2024 with a strong momentum by launching its second custom model. It is worth noting that Xiaomi's electric vehicle manufacturing department did not exist three years ago, but now it has developed, mass-produced, and delivered a stylish electric sedan named SU7, and launched its 1,548-horsepower version, SU7 Ultra.

After launching the SU7 in March, Xiaomi reported that it produced 10,000 units in just 32 days in China, setting a production pace to deliver more than 100,000 units by the end of the year. According to reports last month, Xiaomi reached the 100,000-unit target in just 230 days, much earlier than planned, enabling it to readjust its goals and produce 130,000 SU7s this year. Shortly after the SU7 production started, Xiaomi shared the plans for the second model, the SUV, which is already in development and regards the Tesla Model Y as its main competitor. At that time, Xiaomi stated that it plans to start production of this new SUV after the completion of the second phase of the electric vehicle production facility in Yizhuang, Beijing at the end of 2025. Until today, we have only seen spy photos of the SUV, but Xiaomi has unveiled its appearance and shared its model name - YU7. Moreover, in Xiaomi's usual style, the target production time seems to be earlier than expected, and it may be launched to Chinese customers before the autumn of 2025.

It is 4,999 millimeters in length, 1,996 millimeters in width, 1,600 millimeters in height, and has a wheelbase of 3,000 millimeters. The SUV weighs 2,405 kilograms (5,302 pounds) and has a top speed of up to 253 kilometers per hour (157 miles per hour). The only model in the documents is equipped with front and rear motors, which can reach peak powers of 220 kilowatts and 288 kilowatts respectively. These motors will be powered by CATL's lithium-ion ternary battery, but its capacity is currently unknown. In contrast, Xiaomi SU7 currently offers a standard version and a Max version, providing CLTC cruising ranges of 700 kilometers (435 miles) and 810 kilometers (503 miles) respectively. The latter comes from a 101-kilowatt-hour battery pack, and the sedan's top speed can reach 265 kilometers per hour (165 miles per hour).

As Xiaomi prepares to officially launch the YU7 SUV in 2025, more details will be revealed in 2025, but as far as we have seen so far, it looks like another winner that will sell well in China. With Xiaomi's current expansion rate, it is hard to believe that Xiaomi is not exploring expansion in other markets. This is another aspect worth paying attention to.

Xiaomi YU7 (Source: Xiaomi)

Opinions:

The launch of Xiaomi Automobile's YU7 SUV marks Xiaomi's further expansion and deepening in the field of electric vehicles. Transforming from a tech giant to an electric vehicle manufacturer, Xiaomi Automobile has achieved remarkable achievements in a short period of time, which not only reflects its strong technical and manufacturing capabilities, but also shows its keen market strategy insight.

The launch of the YU7 SUV is another important layout of Xiaomi Automobile in the product line, aiming to meet the needs of different consumer groups and compete directly with competitors such as the Tesla Model Y. The design concept and performance parameters of the YU7 indicate that it will be an electric SUV with high performance and high-tech configuration, which will help Xiaomi Automobile gain a foothold in the high-end electric vehicle market. From a market perspective, the launch of the YU7 will further intensify the competition in the electric vehicle market, especially in the popular SUV segment.

The rapid growth and expansion of Xiaomi Automobile not only pose a challenge to traditional electric vehicle manufacturers such as Tesla, but also put pressure on other emerging electric vehicle brands. Xiaomi Automobile's rapid production capacity and market response speed may change the pattern of the electric vehicle market. In addition, Xiaomi Automobile's global layout is also worthy of attention. With the launch of new models such as YU7, Xiaomi Automobile is expected to further expand the international market and compete with global electric vehicle brands. The success of Xiaomi Automobile not only depends on its product strength, but also requires an all-round layout in brand building, marketing, after-sales service, etc.

BYD's New Generation "Blade Battery" to Be Launched in 2025, Expected to Reduce Electric Vehicle Battery Costs by 15%

Key Points:

Chinese electric vehicle manufacturer BYD (Build Your Dreams) has announced that its next-generation "Blade Battery" will be launched in 2025. This technological innovation is expected to significantly reduce battery costs while improving the cruising range and fast charging capabilities of electric vehicles. As the world's second-largest electric vehicle battery manufacturer, following CATL (Contemporary Amperex Technology Co. Limited), BYD's new technology is expected to narrow the gap with the market leader.

Cao Shuang, the general manager of BYD's Central Asia region, confirmed in a recent interview that BYD will launch a new generation of blade batteries in 2025. He pointed out that the new battery will "enhance the driving range of our vehicles" and has a higher energy density and a faster charging rate. According to the latest news, BYD also plans to achieve a 15% cost reduction. The energy density of the new battery will reach 210 Wh/kg, and the peak discharge rate can reach 16C. It is reported that BYD will launch two versions of the blade battery, one with a lower energy density. The high-energy-density (210 Wh/kg) blade battery will support an 8C discharge rate and a 3C charging rate. While the short-blade format with an energy density of 160 Wh/kg will provide a 16C discharge rate and an 8C charging rate, and has a smaller resistance.

BYD plans to reduce the cost of the high-energy-density unit by 15% compared to the current blade battery with an energy density of approximately 150 Wh/kg. This move is of great significance in the global electric vehicle battery price war. According to Goldman Sachs Research predictions, by 2026, the average price of global electric vehicle batteries will be 50% lower than in 2023, and the expected average battery price may drop from $149 per kilowatt-hour in 2023 to $80. This price level will make the total cost of ownership of electric vehicles in the United States comparable to that of gasoline vehicles without subsidies.

BYD holds a 16.4% share in the global electric vehicle battery market, while CATL dominates with a 36.7% market share. BYD set a sales record of more than 500,000 new energy vehicles in November and is expected to surpass the sales of Ford and Honda this year. BYD has sold 3.7 million vehicles in the first 11 months of 2024, continuing its strong market performance.

BYD Dolphin (Source: Electrek)

Opinions:

The launch of BYD's new generation blade battery indicates another significant progress in electric vehicle battery technology. This technology not only can improve the performance of electric vehicles but also may promote the popularization of electric vehicles by reducing costs. Globally, the promotion of electric vehicles has been limited by the high cost of batteries. BYD's new battery technology is expected to break this bottleneck. From the perspective of environmental protection and energy transformation, this move by BYD has positive significance. With the global emphasis on reducing carbon emissions and responding to climate change, the importance of electric vehicles as a clean energy transportation tool is increasingly prominent. BYD's technological innovation to reduce battery costs helps to reduce the overall ownership cost of electric vehicles, thereby attracting more consumers to switch to electric vehicles and reducing reliance on fossil fuels.

In addition, BYD's competitiveness in the global battery market will also be strengthened. In the context of the increasingly fierce competition in the global electric vehicle battery market, BYD is expected to further increase its market share through technological innovation and cost control, forming a more intense competitive situation with competitors such as CATL. Overall, the launch of BYD's new generation blade battery is not only a manifestation of BYD's own technological progress but also a positive signal for the development of the global electric vehicle industry. With the continuous progress of battery technology and the reduction of costs, we have reasons to expect that electric vehicles will play a more important role in future transportation.

Tesla Model Q Rumors: New Electric Vehicle with Starting Price Below $30,000 to Be Launched in China

Key Points:

Recently, rumors about Tesla's upcoming new electric vehicle named Model Q have attracted widespread attention in China. It is reported that the expected price of this new car will be less than $30,000 (approximately 218,000 yuan), and it is expected to make its official debut in the first half of 2025. It is said that the Model Q will be built on Tesla's new "unboxed" platform, code-named "Sequoia", and its size will be 15% smaller than the Model 3 and 30% lighter in weight. The Model Q is expected to be equipped with a lithium iron phosphate battery pack, offering two configurations of 53 kWh and 75 kWh, and there will be single-motor and dual-motor versions to choose from.

The launch of this new model will further enrich Tesla's product line and is expected to attract more consumers with limited budgets. Nevertheless, the Electrek website is skeptical about this news. They believe that it is highly unlikely that Tesla's investor relations officer would disclose this information at an investor meeting with Deutsche Bank. In addition, Tesla has confirmed that currently, except for the Cybercab, there are no plans to produce other models on its unboxed platform. Electrek speculates that these rumors may be related to the two other new electric vehicles that Tesla plans to release in the first half of 2025.

Tesla's Hypothetical New Electric Vehicle Launch (Source: Electrek)

Opinions:

Regarding the rumors of the Tesla Model Q, the industry believes that this may be the market's expectations and speculations about Tesla's product line. As the leader in the electric vehicle industry, Tesla's every product update attracts global attention. If the rumors of the Model Q are true, it will undoubtedly further consolidate Tesla's competitiveness in the mid-to-low-end market. From a technical perspective, the launch of the Model Q will showcase Tesla's latest progress in battery technology and lightweight design. A 15% size reduction and a 30% weight reduction mean that Tesla has made new breakthroughs in improving energy efficiency and reducing costs. This is of great significance for promoting the popularization of electric vehicles. Tesla may choose to launch a more economical model on the existing platform rather than relying entirely on the new "unboxed" platform. Such a strategy can reduce R & D costs and accelerate the product launch speed.

"Big Events"

Hyundai Plans to Build 600 Fast Charging Stations in India to Accelerate Electric Vehicle Adoption

Hyundai Motor has recently announced that it plans to establish nearly 600 public fast charging stations for electric vehicles across India within the next seven years to accelerate the adoption and infrastructure development of electric vehicles (EVs) in the country. This initiative is part of Hyundai's global efforts to drive the growth of the electric vehicle market, especially in a market as promising as India.

According to Business Standard, Jae Wan Ryu, a Hyundai executive, stated that the electric vehicle market in India is expected to grow at an accelerated pace by 2030, and Hyundai hopes to drive this process by providing a stronger infrastructure. The project will focus on long-distance commuting on highways, with plans to install fast electric vehicle chargers on major highways and in major cities. Currently, there are approximately 12,146 public electric vehicle charging stations in India.

Hyundai Kona Electric in India (Source: Electrek)

Hyundai has signed a memorandum of understanding with the Tamil Nadu government to establish 100 electric vehicle charging stations in the state by 2027, with 10 of them expected to be operational by the end of this month. By the end of this year, Hyundai will establish a network of 50 fast chargers in India.

Up to now, more than 10,000 customers (including Hyundai drivers and drivers of other brands) have used Hyundai's charging network, completing approximately 50,000 charging sessions with a total energy consumption of 730,000 units. The Korean automaker's chargers have a peak charging output power of up to 150 kilowatts. In addition, Hyundai plans to gradually build a strong local manufacturing lineup of electric vehicles that can utilize fast charging. To date, the Korean automaker has sold approximately 4,061 electric vehicles, including the first-generation Kona Electric and the pre-update Ioniq 5.

Hyundai's next steps include launching an improved version of its best-selling SUV, the Creta, in India. The company will showcase the Creta EV at the Bhara Mobility Global Expo next month. By the second half of 2026, the brand will launch an electric crossover to compete with the Citroën e-C3. The electric vehicle market in India is currently very hot, driven by new government incentive measures and increased investment from domestic and foreign electric vehicle companies. Despite many countries such as China and the UK reducing incentive measures, India is continuing to move forward, and electric vehicle sales are increasing.

Currently, companies approved by the government can import electric vehicles worth $35,000 and above at a reduced tariff of 15%, compared to the higher usual rate. In addition, companies can import up to 8,000 electric vehicles per year at this lower rate, and unused import quotas can be carried over to the next year. Nevertheless, there is still much work to be done to convince companies to take this step. For example, Tesla has been delaying its initial plan to build a $2 billion factory in India, forcing the government to consider more incentive measures to realize its electric vehicle dreams.

Stellantis Partners with Zeta Energy to Develop Lithium-Sulfur Batteries, Aiming to Power Electric Vehicles by 2030

Global automotive manufacturing giant Stellantis and Zeta Energy Corp. have announced a joint development agreement aimed at advancing battery cell technology for electric vehicle applications. The goal of this collaboration is to develop a revolutionary lithium-sulfur electric vehicle battery with a weight energy density and a volumetric energy density comparable to current lithium-ion technology.

For consumers, this means potentially having a