<div id="readability-page-1"><div><div><p><strong>Xiaomi Corp.</strong> (OTC: XIACF) (OTC: XIACY) CEO <strong>Lei Jun</strong> revealed on Thursday that the company bought three <strong>Tesla</strong> (NASDAQ: TSLA) <strong>Model Y</strong> cars for an in-depth study. While speaking at the Beijing National Convention Center, Lei shared details about the process of taking the cars apart for analysis.</p><p><em>Check out the current price of XIACY stock here. </em></p><p>“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 said, reported Business Insider.</p><h2>Direct Competition Assessment</h2><p>Lei compared Tesla’s Model Y with Xiaomi’s YU7 electric SUV, stating, “If you don’t choose the YU7, you might consider the Model Y.”</p><p>He also added, “The Model Y is an exceptionally impressive car.”</p><p>Xiaomi’s vehicle boasts 800V architecture, allowing it to charge to 80% in just 13 minutes, whereas the Model Y takes 18 minutes to reach the same charge level.</p><p>Xiaomi and Tesla did not immediately respond to Benzinga's request for comment.</p><h2>Market Performance Data</h2><p>Tesla’s sales in China fell by 4% year-over-year to 83,200 units in August, according to data from the China Passenger Car Association. Local competitors, such as Xiaomi, are offering more affordable EVs than Tesla. </p><p>Recent research from analysts has shown that Chinese electric vehicle manufacturers pose the greatest competition to Tesla, thanks to their low-cost models and rapid updates.</p><h2>Strong Pre-Order Results</h2><p>Xiaomi’s YU7 received more than 240,000 preorders within 24 hours of its June launch. Lei stated that the YU7’s design “is definitely on par with the Model Y” and highlighted its impressive performance considering its price.</p><p>Xiaomi’s stock price ranges from $20.35 to $61.45. The company has a market capitalization of 1.42 trillion Hong Kong dollars. The average daily trading volume is 142.88 million shares, and the price-to-earnings ratio stands at 35.01.</p><ul> <li><strong>Stock Of The Day: Why Did Cipher Mining Reverse?</strong></li> </ul><p><em>Image Via Shutterstock</em></p><p><strong>Disclaimer:</strong> This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.</p></div></div></div>

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<p>Xiaomi CEO Lei Jun announced that the company purchased three Tesla Model Y cars for detailed analysis, disassembling them to study each component. He compared the Model Y with Xiaomi's YU7 electric SUV, highlighting the YU7's faster charging capabilities. Despite Tesla's sales decline in China, Xiaomi's YU7 received over 240,000 preorders within 24 hours of its launch. Xiaomi's stock price ranges from $20.35 to $61.45, with a market cap of 1.42 trillion HKD and a P/E ratio of 35.01.</p>

- Xiaomi Corp. CEO Lei Jun announced the purchase of three Tesla Model Y cars for detailed analysis, comparing them to Xiaomi's YU7 electric SUV.  
- He highlighted the YU7's 800V architecture, allowing for faster charging compared to the Model Y, and noted that Xiaomi's vehicle received over 240,000 preorders shortly after its launch.  
- Tesla's sales in China have declined, facing stiff competition from local manufacturers like Xiaomi, which offer more affordable electric vehicles.  

Xiaomi CEO Reveals Company Bought 3 Tesla Model Ys To Tear Apart: '...Disassembling The Parts One By One'