Xiaomi Set to Launch EVs in Europe, Australasia, and India by 2027
Xiaomi, the Chinese electronics giant, is set to expand its electric vehicle (EV) business globally by 2027. The company has revealed plans to initially focus on markets like Europe, Australasia, and India, where it already has a significant presence. Xiaomi President William Lu announced these plans at the Mobile World Congress in Barcelona.
Xiaomi has been conducting market research to understand regional requirements for its international EV launch. The company has already launched an online store in Australia, indicating its interest in the Australasia region. In Europe, Xiaomi plans to establish showrooms by 2027. India, where Xiaomi already has a strong presence, is also on the list for EV expansion.
Xiaomi's latest EV model, the SU7 Ultra, has garnered attention for its impressive performance. It significantly outperforms the Porsche Taycan Turbo GT, which retails for over US$375,000. The SU7 Ultra, priced from RMB 529,000 (under NZ$130,000), features three electric motors generating 1127kW. Despite its competitive pricing, Xiaomi has ruled out a US launch due to potential trade restrictions and regulatory hurdles.
The company is taking a strategic approach to its global expansion. It has formed dedicated business preparation groups to explore overseas sales of its EVs. Xiaomi may initially launch its EVs in select countries to gauge market response before a broader rollout. New Zealand, where Chinese EVs already control at least 15% of the market, is under consideration. However, Xiaomi will need to navigate complex compliance issues in multiple countries to successfully execute its global expansion.
Xiaomi's global EV expansion is set to begin in 2027, with an initial focus on Europe, Australasia, and India. The company's competitive pricing and impressive EV performance, as seen in the SU7 Ultra, could make it a strong contender in these markets. However, Xiaomi will need to overcome regulatory hurdles and ensure compliance in each country to successfully launch its EVs internationally.
