- Xiaomi’s president confirms plans to sell EVs globally, but won’t launch in the USA.
- The SU7 and YU7 EVs have been well-received in China, fueling the brand’s ambitions.
- Business preparation for international sales includes researching regional market needs.
Xiaomi has made global headlines with its impressive SU7 and YU7 EVs. Up until now, however, the technology giant has only been selling its cars in China but the company president has confirmed they are working to sell their cars internationally.
While speaking at the ongoing Mobile World Congress in Barcelona, Spain, Xiaomi president William Lu said the firm is working on entering global markets but failed to divulge too many details about its plans.
Read: 1,526-HP Xiaomi SU7 Ultra Is $40K Cheaper Than Initially Announced
“I cannot share too many details, but I am so excited to tell our global users that Xiaomi will be releasing EVs for the sale in global markets within the next few years,” he revealed to CNBC.
Several new EV brands out of China have ventured into overseas markets in recent years, and that is the goal for Xiaomi. However, it won’t be easy to develop and manufacture cars for the requirements of several different market regions. As it stands, Xiaomi only has to worry about complying with Chinese standards.
According to a report from China in December, Xiaomi has been creating business preparation groups to begin research on overseas sales. CNEVPost believes the carmaker could first launch in a handful of countries to test market response in preparation for broader, larger-scale rollouts of its vehicles. Given how popular BYD has become in markets outside of China, it’s not far-fetched to say that Xiaomi wants to replicate this success, especially considering how well the SU7 and YU7 have been received in its home market.
Xiaomi captured the media’s attention late last week when it announced that the new SU7 Ultra will start at ¥529,000 or less than $73,000. That’s an extraordinarily competitive price when you consider the EV has three electric motors churning out 1,527 hp, way more power than the 1,019 hp Porsche Taycan Turbo GT that starts at ¥1,998,000 locally, or the equivalent of around $274,000.
