A Deep Insight into Tesla's Success Model: Xiaomi Faces the Competition

Xiaomi CEO Lei Jun recently caused a stir when he revealed a remarkable detail about his company's competitor analysis during his annual speech. Xiaomi, increasingly positioning itself as a significant player in the electric vehicle sector, has closely examined Tesla's success secret. To this end, the company purchased three Tesla Model Ys at the beginning of the year and dismantled them to study every detail intensively. On an impressive large screen at the Beijing National Convention Center, Lei Jun recently presented an illustrative comparison between the Tesla Model Y and Xiaomi's own electric SUV, the new YU7. He praised the Model Y as an outstanding vehicle while highlighting the meticulous design of the YU7's interior. According to Lei, the final design of the YU7 surpasses Tesla's in no way. Special mention was also made of the YU7's battery performance, which Lei described as remarkable in terms of his company's value for money. The timing of this revelation is certainly not coincidental, as Tesla faces increasing competition in China. Compared to the previous year, sales in China fell by 4% in August, totaling 83,200 units. The company competes there with emerging local brands like Xiaomi, Xpeng, and Nio, which offer more affordable electric vehicles. The fact that Xiaomi's YU7 recorded over 240,000 pre-orders within the first 24 hours of its launch in June underscores the potential and great interest in new alternatives in the Chinese market. Although representatives from Xiaomi and Tesla did not comment on this story, the developments show that competition in the electric vehicle industry continues to intensify.