Particle.news
Download on the App Store
4 ARTICLES
·
2h ago

Xiaomi Sets 2027 Target for First EVs in Europe After Surging Q2 Sales

Robust Q2 EV results provide resources for a push that still requires building name recognition for Xiaomi’s cars in Europe.

Image

Overview

  • President Lu Weibing confirmed a 2027 European launch and described the region as the company’s most complicated market.
  • Xiaomi plans to replicate its China business model for Europe but has not defined specific vehicle plans for the region.
  • The EV unit posted 20.6 billion yuan in Q2 revenue with 81,302 deliveries and a 10.9% rise in average selling price, driven by SU7 Ultra demand.
  • Heavy order volumes have extended wait times in China, and CEO Lei Jun told customers on Weibo they could consider alternatives such as Tesla.
  • Xiaomi is bolstering design and positioning, including hiring former BMW i design chief Kai Langer and pitching SU7 and YU7 as rivals to Tesla’s Model 3 and Model Y.