Xiaomi intends to debut electric vehicles on European roads by 2027
Xiaomi, the renowned Chinese tech company, is making waves in the automotive industry with its electric vehicle (EV) business. In a recent development, Xiaomi's CEO Lei Jun recommended disappointed customers to consider rival products such as the Xpeng G7, Li Auto i8, and Tesla Model Y, while also hinting at the promising future of Xiaomi's own EVs.
Xiaomi's foray into the EV market began in 2023 with the launch of its first electric vehicle, the SU7. The demand for the SU7 has been substantial, with wait times currently at 41 weeks. The company's president, William Lu, shared a photo of an SU7 on German plates on his Weibo account, indicating Xiaomi's global aspirations.
Lu also confirmed that Xiaomi Auto is in the research and preparation phase of its European rollout. The company plans to enter the European EV market in 2027, a move that follows Xiaomi's significant investment of over £3 billion in the company's launch and scale-up.
Xiaomi's second EV, the YU7 SUV, is currently on sale in China. Although orders placed now for the YU7 won't be fulfilled for more than a year, the low starting price of £29,000 makes it an attractive option for many.
During an earnings call, Lu announced the exact timing of Xiaomi Auto's entry into the European market with their electric vehicles, scheduled for 2027. However, the specific date or quarter in 2027 remains undetailed. Lu did not provide specific details on timings or model lines for the European market, but he did suggest that Xiaomi's EVs are likely to be pitched more overtly at the premium end of the European market.
In the last financial quarter, Xiaomi's EV business generated revenues of just over £2 billion, a testament to the growing success of the venture. Xiaomi Auto is one of the fastest-growing car brands in China, having delivered more than 80,000 cars in the last quarter alone, representing a near-200% yearly increase.
As Xiaomi prepares to enter the European EV market, it will be interesting to see how the company's electric vehicles are received by European consumers. With its focus on premium offerings and competitive pricing, Xiaomi is set to challenge the status quo in the European EV market.
Read also:
- Li Auto faces scrutiny after crash test involving i8 model and a truck manufacturer sparks controversy
- Construction and renovation projects in Cham county granted €24.8 million focus on energy efficiency
- Threat looms over an ancient rock art site in Australia as the government prolongs the existence of a giant gas facility nearby
- Weekly proceedings in the Federal Diet (Bundestag)
