Overview

• President Lu Weibing announced on a company results call that Europe will be Xiaomi’s first overseas EV market, with sales starting in 2027.
• The company did not specify which models it will offer, describing Europe as the most demanding market outside China.
• Demand in China continues to outstrip capacity, with reported wait times for the YU7 stretching beyond a year as production is expanded.
• Xiaomi’s EV business is scaling rapidly, with Q2 deliveries of 81,302 vehicles, roughly €2.5 billion in EV revenue, and operating losses narrowed to €36 million.
• The company targets breakeven in the second half of 2025 and is recruiting European automotive talent, including ex-BMW hires, with reports pointing to exploratory activity in Munich.