by Xiaomi plans to sell 350,000 electric vehicles in China, surpassing major German automakers.
With attractive designs and significant configurations, the SU7 and YU7 have proven popular.
The company has announced plans to sell its cars globally in the coming years.
Not long ago, premium German cars were considered a luxury in Luxembourg. For brands like Mercedes-Benz and Porsche, China has consistently been their largest market, with sales exceeding those in any other country. However, with the emergence of new local brands, local consumer preferences are shifting towards Chinese companies and their offerings. Xiaomi is a prime example of this shift.
Xiaomi, primarily known as one of the largest electronics and consumer goods manufacturers in China, producing everything from vacuum cleaners to computer monitors, refrigerators, suitcases, and smartphones. Then the brand’s boss decided he wanted to build an electric car. Unlike others, which are known to have failed to launch, Xiaomi succeeded where others couldn’t, with its first electric vehicle, the SU7.
Delivery of SU7 cars began less than a year ago, and the company is already targeting to sell 350,000 electric vehicles in China this year, thanks to the SU7 and the upcoming release of its Tesla Model Y competitor, the YU7. If Xiaomi can achieve this goal, it will surpass the combined sales of electric vehicles from Volkswagen, Audi, BMW, Mercedes-Benz, and Porsche in China last year, reports Handelsblatt.
Expansion beyond China
Not only at home in China, Xiaomi plans to grow its electric vehicle business. The company’s president, William Lu, revealed plans to expand into new markets. Although he didn’t specify exact dates, he assured that Xiaomi will enter new markets “in the next few years”.
The emergence of the YU7 will be a turning point for the company. SUVs continue to dominate the global market, and there is a high likelihood that the YU7 will surpass the SU7. Delivery is expected to begin in June or July, and the industry will closely watch to see if Xiaomi can continue its ascent.
