Xiaomi has started sales of its second electric car model, the YU7. This also reveals the pricing: The Xiaomi YU7 is available in China from 253,500 yuan,

The YU7 is Xiaomi's second car since the Beijing-based firm entered the auto sector last year with its sporty electric SU7 sedan, which drew styling cues from Porsche and was priced below Tesla's Model 3. Since December, the SU7 has outsold Tesla's Model 3 in China on a monthly basis.

Chinese smartphone company Xiaomi priced its luxury YU7 SUV within expectations — but undercut Tesla’s Model Y.