Chinese tech giant Xiaomi has confirmed plans to expand its electric vehicle (EV) business beyond China, likely as soon as 2027.
Speaking at the Mobile World Congress in Barcelona, Xiaomi President William Lu revealed that the company is preparing to enter global markets.
However, he remained tight-lipped on specifics, stating, "I cannot share too many details, but I am so excited to tell our global users that Xiaomi will be releasing EVs for sale in global markets within the next few years."
Xiaomi's global strategy
Xiaomi’s entry into the EV sector has been met with enthusiasm in China, particularly with its SU7 sedan and YU7 SUV models.
The company is now laying the groundwork for international expansion by conducting extensive research into regional market requirements.
Unlike its domestic operations, where it only needs to meet Chinese regulatory standards, Xiaomi will need to navigate complex compliance issues in multiple countries.
Reports from China indicate that Xiaomi has been forming dedicated business preparation groups to explore overseas sales.
Industry speculation also suggests that the company may initially launch in select countries to gauge market response before scaling up production for a broader rollout. This approach mirrors the overseas success strategy employed by fellow Chinese automaker BYD.
Competitive pricing and performance
Xiaomi recently made waves by announcing the SU7 Ultra, priced from RMB 529,000 (under NZ$130,000).
The performance-focused EV boasts three electric motors generating 1127kW, significantly surpassing the Porsche Taycan Turbo GT’s 760kW.
Of course, the Porsche is in an entirely different price bracket (starting at US$375,000), positioning Xiaomi’s offering as a high-performance bargain.
Xiaomi EV global market launch
While many automakers aim for a presence in the lucrative US market, Xiaomi has explicitly ruled out a stateside launch.
The company is likely prioritising markets with fewer trade restrictions and regulatory hurdles, focusing instead on regions where Chinese EVs have already gained traction.
With the influx of Chinese car brands in New Zealand (Geely and its new EX5 being the latest example), it's hard to imagine that Xiaomi isn't giving at least some thought to entering the local market, especially as Chinese EVs now control at least 15% of it, according to new research. So it's certainly possible, but we'll have to see how things play out.
In any case, with a strong domestic reception for its vehicles and highly competitive pricing, Xiaomi is poised to make an impact in global EV markets. However, the company's success abroad will hinge on how well it navigates diverse market regulations and consumer demands.
