Chinese EV and smartphone maker Xiaomi on Thursday priced its new electric YU7 SUV from 253,500 yuan ($35,364), almost 4% below Tesla's Model Y, stepping up the challenge to the U.S. firm in the world's largest auto market.

Chinese EV and smartphone maker Xiaomi on Thursday priced its new electric Xiaomi YU7 SUV 10,000 yuan ($1,395) cheaper than

Chinese smartphone and appliance maker Xiaomi launched its second model and orders started pouring in. The firm received 289,000 orders in one hour