Xiaomi says it received over 200,000 orders for a new car it priced just below Tesla's Model Y in 3 minutes
1. Xiaomi's YU7 SUV received 200,000 orders in just three minutes. 2. The YU7 is priced at $35,000, undercutting Tesla's Model Y. 3. Jefferies analysts expect YU7 to take market share from Tesla. 4. Xiaomi's sales growth highlights increasing EV price wars in China. 5. Xiaomi's stock rose significantly due to strong demand for the YU7.