Xiaomi Corporation, the first Chinese Tesla killer after its SU7 sedan outsold Model 3, is now aiming to unseat Model Y, China’s bestselling SUV, with its upgraded YU7 due to its low-cost advantage, as the company’s shares opened at HK$29.6 this morning, edging down 0.54 per cent from the previous close.This followed the firm’s first-quarter net profit missing market estimates, as rising memory chip costs continued to drag its smartphone businesses, leaving its electric vehicles (EV) – Xiaomi’s second-largest revenue contributor – to keep growing.The Beijing-based tech giant said on Tuesday that it had started deliveries for the standard edition…