This mobile phone company has launched a car and received over 200,000 orders in the first 3 minutes: “It seems to be sold as hot bread”

Chinese manufacturer Xiaomi has launched a car slightly cheaper than Tesla Model Y and has already attracted hundreds of thousands of buyers, reports the Business Insider website.

In a post published on the Chinese social network of Weibo on Thursday, the Chinese manufacturer of smartphones and electric vehicles said it has received over 200,000 YU7 orders in three minutes after its launch in Beijing.

In an hour from the start of the sale, he had over 289,000 orders for the car, Xiaomi wrote in a second post.

The car, which starts at $ 35,000, is a model for model Y, the most popular SUV in China, which starts at $ 36,760.

The founder and CEO of Xiaomi, lei Jun, launched several stings in the direction of Tesla, owned by Elon Musk, during the launch event.

“Tesla said before:” Continue and compare, “and we, at Xiaomi, simply do not accept the defeat. Today we officially accept the Tesla invitation to compare,” said lei on Thursday.

Xiaomi shares increased by 8% at a record level on Friday in Hong Kong as a result of powerful order demand. He ended the growing day by about 3.6% to nearly $ 59 Hong Kong.

“Yu7 seems to be sold like hot bread despite the slightly higher prices” than estimated ones, “Jefferies analysts wrote by Edison Lee wrote on Thursday.

“The price of Yu7 is easy below the Tesla model Y, but it offers much better specifications/performances,” the analysts wrote. “The Y model is the main target of YU7 and, therefore, we expect YU7 to be able to take over the market share from the Y model.”

Yu7 is the second Xiaomi car since the company entered the electric vehicle sector last year with its SU7 sedan.