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Xiaomi made a cheap Ferrari EV. Who needs Porsche?

Western premium and luxury carmakers with far higher sticker prices should fear the increasingly sophisticated rivals China is churning out.

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The YU7 is the complete package – a stylish and tech-laden SUV with up to 835 km of driving range, all for an affordable price.

The YU7 is the complete package – a stylish and tech-laden SUV with up to 835 km of driving range, all for an affordable price.

PHOTO: REUTERS

Chris Bryant

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Watching the launch last week of

Xiaomi’s luxury electric sport utility vehicle, the YU7,

stirred up two strong emotions: wonder at its impressive technology, and deep foreboding for the future of Western carmakers.

The YU7 is the complete package – a stylish and tech-laden SUV with up to 835km of driving range, all for an affordable price. The entry-level version costs just 253,500 yuan (S$45,000). 

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