Xiaomi President Confirms Upcoming Global Expansion in Electric Vehicles | Carscoops
The Chinese brand is preparing to launch full-scale production of the YU7 SUV.
Xiaomi's president has affirmed intentions to market EVs worldwide, although there will be no launch in the USA.
The SU7 and YU7 electric vehicles have garnered positive feedback in China, driving the brand's aspirations.
Their preparations for international sales involve researching the needs of different regional markets.
Xiaomi has attracted global attention with its notable SU7 and YU7 EVs. Until now, the tech giant has restricted sales to China, but the company's president has confirmed they are aiming for international sales.
During the ongoing Mobile World Congress in Barcelona, Spain, Xiaomi president William Lu mentioned that they are working on entering global markets, though he did not share many specifics about their plans.
“I cannot reveal too much, but I am thrilled to inform our global users that Xiaomi will launch EVs for sale in international markets in the next few years,” he disclosed to CNBC.
Several new Chinese EV brands have entered foreign markets recently, and this is also Xiaomi's goal. However, adapting to the various market requirements will not be straightforward, as Xiaomi currently only needs to meet Chinese standards.
A report from December suggested that Xiaomi has been forming teams to prepare for business and conduct research on overseas sales. CNEVPost anticipates that the automaker may initially enter a few countries to gauge market reaction before conducting broader rollouts. With BYD's growing popularity outside China, it is reasonable to assume Xiaomi aims to achieve similar success, especially given the strong reception of the SU7 and YU7 in its domestic market.
Last week, Xiaomi drew media attention by announcing that the new SU7 Ultra's starting price will be ¥529,000, or less than $73,000. This price point is highly competitive, considering the EV features three electric motors producing 1,527 hp—significantly more power than the 1,019 hp Porsche Taycan Turbo GT, which starts at ¥1,998,000, or about $274,000.
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Xiaomi President Confirms Upcoming Global Expansion in Electric Vehicles | Carscoops
The Chinese brand is preparing to start large-scale production of the YU7 SUV.