Following the immediate success of its first electric car, China’s Xiaomi made another splash on Thursday when chief executive Lei Jun announced the company had received more than 10,000 orders for its highly anticipated supercar just two hours after the launch. Xiaomi said the standard version is suitable for racing competitions. Context: Xiaomi reported deliveries of more than 135,000 SU7 sedans last year, which went on sale last March and compete with Tesla’s Model 3 at a starting price of RMB 215,900. The Chinese tech giant has announced it will launch its second car, the YU7, this June or July, a model that is expected to rival Tesla’s best-selling Model Y crossover and serve as another growth driver, TechNode reported. Several Chinese auto majors have launched similar offerings hoping to establish their presence in the luxury car segment, including BYD’s Yangwang U9, the Zeekr 001 FR from Geely, and GAC’s Hyper SSR supercar.