Xiaomi Increases Electric Vehicle Sales Targets

Chinese technology giant Xiaomi is reportedly accelerating electric vehicle sales and targeting several regions.

Xiaomi recently launched its first electric car model in China, and the second one is ready to be launched next year. The company has reportedly set up a dedicated team to manage its international sales and initially focused on market research, project management and after-sales support.

According to reports, Xiaomi will start with small sales in selected regions. By using an existing network of more than 100 Xiaomi stores worldwide, the company will be able to gauge market response and adjust its approach before a full-scale launch.

Xiaomi’s first vehicle, the SU7 electric sedan, was launched in China in March with a starting price of RMB 215,900 (€26,800). The company recently announced that it has surpassed its 2023 delivery target of 100,000 units for the SU7 and has set a new target of 130,000 units for 2024.

SU7 made its international debut at the Mobile World Congress in Barcelona in February, followed by a special demonstration in Paris in July. During the Paris event, Xiaomi’s CEO Lei Jun expressed goals of selling Xiaomi-branded cars in Europe before 2030. Recent reports suggest that the company may be stepping it up.

Xiaomi’s second EV model, the YU7 SUV, will be launched in June or July 2025. Since SUVs are generally more popular in Western markets, it would make perfect sense for the YU7 to be part of the initial market expansion.

While Xiaomi has a strong track record in consumer electronics, it will not be easy for it to establish itself as a major player in the global car market. The company will face stiff competition from established automakers and other emerging electric vehicle brands, but if its domestic success is any indication, the only problem Xiaomi will face will be fulfilling orders.