By Qiaoyi Li, Che Pan and Brenda Goh BEIJING (Reuters) -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,

Xiaomi's new electric SUV, the YU7, is priced competitively against Tesla's Model Y in China, with base models starting 4% lower. Initial orders surged to 200,000 within minutes. The YU7, Xiaomi's second vehicle,