Xiaomi has just announced that its second electric vehicle (EV) will be a sports utility vehicle (SUV). The YU7 is rated to have just under 700 horsepower (hp) and to have a top speed of just over 150 miles per hour (mph) thanks to dual motors with a combined output of ~500 kilowatts (kW). It should be ready to start competing with the Tesla Model Y Juniper in China by mid-2025.