- This is the first time Xiaomi's management has mentioned a timeline regarding the entry of its EV business into overseas markets.
- Xiaomi showcased the SU7 Ultra at MWC 2025, and its president will visit the European automotive market after the event.
Xiaomi (HKG: 1810, OTCMKTS: XIACY) aims to sell electric vehicles (EVs) in overseas markets by 2027, the smartphone giant's president said.
William Lu, or Lu Weibing, revealed the timeline in an interview with Chinese media on the sidelines of the ongoing MWC 2025 event in Barcelona, Spain, marking the first time Xiaomi's management has mentioned a clear timeline for entering overseas markets.
At the MWC 2025 event, Xiaomi showcased the Xiaomi 15 Ultra smartphone as well as the SU7 Ultra electric sedan.
Lu said that after MWC 2025, he would visit the auto markets of several European countries to check how Chinese carmakers are performing in terms of sales there, according to the text of the interview published yesterday by local media outlet Jiemian.
He said Xiaomi's EV business has faced a lot of skepticism over the past three years, but those skepticisms were allayed with the launch of the SU7.
"After every earnings call, when we talk to investors, they tend to think that Xiaomi entered the EV market too late and missed the best time," Lu said.
However, the market has changed a lot since the SU7 was launched last March, he said. "From SU7 to SU7 Ultra, we have laid a very good foundation through these two battles and broken the skepticism that Xiaomi entered the car-making ranks late. So I think our car business is basically standing firm in the Chinese market."
Lu said Xiaomi's overall strategy for its EV business is to prioritize gaining a solid position in the Chinese market.
A Chinese car company that doesn't have a very good position in its home market is going to have a hard time expanding overseas, he said.
Xiaomi officially announced on March 30, 2021 that it had joined the car-making bandwagon, and on December 28, 2023, it let its first model, the SU7, make its debut.
Xiaomi showcased the SU7 at the MWC 2024 event in late February last year, marking the model's first appearance on the international stage.
The SU7 was officially launched on March 28, 2024, with a starting price of RMB 215,900 ($29,680)
For all of last year, the SU7 received more than 248,000 locked-in orders and more than 135,000 units were delivered, according to data released by Xiaomi last month.
On February 27, Xiaomi launched the SU7 Ultra in China at a starting price of RMB 529,900 yuan.
The SU7 Ultra is an ultra-performance electric sedan based on the regular SU7, with three motors that deliver 1,548 Ps of maximum horsepower.
Xiaomi began deliveries of the SU7 Ultra on March 2, when it said firm orders for the model reached 19,000 units, and locked-in orders exceeded 10,000 units, ahead of its target of 10,000 units for the year.
($1 = RMB 7.2754)
More on Xiaomi
