Xiaomi CEO Lei Jun has recently disclosed the extent to which the company has been closely studying Tesla in the development of its own electric vehicles. At a recent event at the Beijing National Convention Center, Lei revealed that Xiaomi had purchased three Tesla Model Ys earlier this year and meticulously dismantled them to analyze each component.
“We bought 3 Model Ys at the start of this year, disassembling the parts one by one, and studied every component, one at a time,” Lei stated, as reported by Business Insider.
During his presentation, Lei showcased a slide comparing the Model Y directly to Xiaomi’s YU7, the company’s debut mass-market SUV. He urged the audience to consider the Model Y if they did not opt for the YU7, emphasizing the exceptional quality of Tesla’s vehicle.
Furthermore, Lei highlighted the effort his team put into designing the interior of the YU7, affirming that the final design of Xiaomi’s SUV rivals that of the Model Y in terms of sophistication and functionality.
Xiaomi’s YU7 made a splash in the market when it launched in late June, setting new records for car pre-orders in China. Within just three minutes, the YU7 secured over 200,000 pre-orders, a number that surged to over 240,000 within 24 hours. The SUV boasts impressive DC fast charging capabilities, with the ability to charge from 10% to 80% in just 13 minutes, outperforming the Tesla Model Y’s 18-minute charging time.
Although Tesla has faced increased competition from domestic automakers in China such as Xiaomi, Xpeng, and Nio, the Model Y continues to serve as a benchmark for aspiring rivals. Analysts like Piper Sandler’s Alex Potter have emphasized Tesla’s lead in AI and driver-assistance technology, particularly in real-world autonomy, despite aggressive pricing strategies from local competitors.
Tesla’s innovative production techniques, including gigacasting, have set the standard for cost-effective manufacturing and repairs, influencing competitors who closely examine Tesla’s vehicles for insights.
Lei acknowledged that Xiaomi’s engineers view the Model Y as the standard to meet in developing a successful EV, even as the YU7 aims to carve out its own niche in China’s competitive electric vehicle market.
In conclusion, Xiaomi’s strategic approach to studying Tesla’s vehicles underscores the importance of benchmarking against industry leaders to drive innovation and competitiveness in the rapidly evolving EV landscape.