Xiaomi accelerates its global electric vehicle ambitions

13 December 2024

Chinese tech giant Xiaomi is reportedly preparing to expand its electric vehicle business beyond its home market, with several overseas regions in its sights.

Xiaomi only recently launched its first EV model in China, with the second ready for its debut next year. The company is reportedly assembling a dedicated team to lead its international sales, with initial focus on market research, project management, and after-sales support.

According to reports, Xiaomi will start with small-batch sales in select regions. Using an existing network of over 100 Xiaomi stores worldwide, the company will be able to gauge market response and fine-tune its approach before a full-scale launch.

Xiaomi's first EV, the SU7 electric sedan, debuted in China in March with a starting price of RMB 215,900 ($29,700). The company recently announced that it had surpassed its 2023 delivery target of 100,000 units for the SU7 and set a new goal of 130,000 units for 2024.

The SU7 made its international debut at the Mobile World Congress in Barcelona in February, followed by a special display in Paris in July. During the Paris event, Xiaomi's CEO Lei Jun expressed ambitions to sell Xiaomi-branded cars in Europe before 2030. The recent reports suggest that the company may be accelerating its timeline.

Xiaomi's second EV model, the YU7 SUV, will launch in June or July 2025. It would make a lot of sense for the YU7 to become part of the initial market expansion, since SUVs are generally more popular in Western markets.

While Xiaomi has a strong track record in consumer electronics, establishing itself as a major player in the global EV market won't be easy. The company will face stiff competition from established automakers and other emerging EV brands, but if its local success is anything to go by, the only problem Xiaomi will have is keeping up with orders.

Via