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Xiaomi Aims to Take its Electric Vehicle Plans Global
Efe Udin
December 13, 2024
Source: CNBC
Xiaomi, known for its tech products, is now making big moves in the electric car space. With its first EV model already doing well in China, the company is gearing up to expand its reach into global markets. This marks a bold step for Xiaomi as it ventures into a highly competitive industry. Reports suggest Xiaomi plans to start with limited sales in a few key regions. By using its network of over 100 stores, the company aims to test market interest and refine its global plans. This cautious yet clever approach allows Xiaomi to adapt its strategy based on early feedback before diving into full-scale sales.
Early EV Success in China
Xiaomi’s first electric sedan, the SU7, made its debut in March this year. Priced at RMB 215,900 (€26,800), the car has already surpassed its 2023 goal of 100,000 units sold, with a new target of 130,000 units for 2024. Its strong sales performance shows the demand for Xiaomi’s EVs and hints at potential success abroad.
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The SU7 has also stepped onto the global stage. It was showcased at the Mobile World Congress in Barcelona and later at a high-profile event in Paris. These displays allowed Xiaomi to gauge global interest and highlight its plans to bring EVs to markets outside China.
Xiaomi’s second electric car, the YU7 SUV, is set to launch by mid-2025. Given the global popularity of SUVs, this model could play a key role in Xiaomi’s push into new regions. Its timing and design align well with the company’s broader goals to meet diverse market needs.
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Source: ArenaEV
Though Xiaomi has excelled in tech, entering the global EV market will be no easy task. It faces stiff competition from established car brands and new EV makers. However, with its proven ability to deliver high-value products, Xiaomi may turn challenges into wins. The main risk might not be competition but keeping up with demand.
A Future in Motion
Xiaomi’s CEO has hinted at plans to sell EVs in Europe by 2030. However, recent developments suggest that there is a significant shift in this timeline. With consistent success in the Chinese market and a well-structured strategy for international expansion, the company is positioned to make an impact on the global EV landscape.
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Source/VIA :
arenaev
