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

Chinese tech giant Xiaomi is making waves in the electric vehicle (EV) world once again. Just minutes after unveiling its second EV, the YU7

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.