Xiaomi, the renowned Chinese smartphone brand, has recently ventured into the electric vehicle market with the launch of its own car, the SU7. This move has garnered significant attention as Xiaomi managed to achieve what Apple couldn’t – entering the automotive industry.
The SU7 quickly gained popularity and became a sales hit, with over 135,000 deliveries reported in 2024. This success has paved the way for Xiaomi to expand its electric vehicle lineup, with plans to introduce an SUV later this year. This strategic move is expected to further boost Xiaomi’s sales growth and solidify its position in the competitive EV market.
Dubbed as “China’s Apple car,” the Xiaomi SU7 made a splash in the global EV scene when it was unveiled in December 2023. Despite the growing preference for crossovers and SUVs worldwide, the SU7 proved that sedans still have a market, especially in China. The sedan has been consistently selling over 20,000 units per month for the past four months, showcasing its strong appeal to consumers.
Xiaomi’s success with the SU7 is set to continue, with the company targeting 300,000 vehicle sales in 2025. To achieve this ambitious goal, Xiaomi is gearing up to launch a new model, the YU7, a crossover SUV that is expected to attract even more customers with its impressive range, charging capabilities, and performance specs. The YU7’s design draws inspiration from high-end super SUVs, hinting at a blend of style and functionality.
In terms of pricing, the SU7 is positioned competitively in the market, undercutting popular models like the Tesla Model 3. With a starting price of just under $31,000 in China, the SU7 offers a compelling value proposition for consumers. Additionally, Xiaomi offers a top-tier variant, the SU7 Ultra, boasting a staggering 1,500 horsepower and a price tag of around $114,000, targeting performance-oriented buyers.
The upcoming Xiaomi YU7 crossover, which shares a platform with the SU7, is poised to cater to SUV enthusiasts looking for a spacious interior and a raised driving position. While specific details about the YU7 are yet to be confirmed, it is expected to leverage similar technology and features as its sedan counterpart.
Xiaomi’s foray into the electric vehicle market has generated significant momentum, with plans to expand its presence beyond China. The company has showcased its vehicles in Europe and expressed intentions to enter the European market in the future. With positive feedback from industry leaders like Ford CEO Jim Farley, Xiaomi is poised to make a mark in the automotive industry with its innovative approach and compelling product offerings.
As Xiaomi continues to push boundaries and explore new opportunities, the company’s focus on innovation and customer-centric approach is likely to drive its success in the dynamic electric vehicle market. With the launch of new models and expansion into new markets, Xiaomi is set to redefine the automotive landscape with its cutting-edge technology and visionary leadership.