Xiaomi (pronounced shau-mi) is predicted to launch electric vehicle sales in Europe by 2027 following the launch its its YU7 luxury SUV.
The Beijing-based business is healthier often known as the third largest smartphone maker on the planet and it sold 61 million handsets last 12 months.
Nonetheless, the corporate expanded into electric vehicle last 12 months with its SU7 saloon and has added its second model in June this summer with its YU7.
The YU7 is aiming its styling at luxury rivals just like the Porsche Macan, but pricing is predicted to place pressure on volume and premium German rivals alike, in addition to rival Chinese brand BYD and Elon Musk’s Tesla.
The YU7 secured 240,000 orders 18 hours after its official launch initially of the summer. As of June 30 this 12 months Xiaomi had speedily ramped up the opening of 335 smart EV sales centers across 92 cities in mainland China.
Xiaomi’s president Lu Weibing has already said that the brand’s business model in China can apply to overseas markets by 2027, adding further fuel to speculation that Xiaomi will expand the automotive division to begin sales across Europe by 2027.
Weibing even posted an image of its first model, the SU7 saloon, with German plates online in July, giving an additional hint that the corporate is already exploring the thought of bringing its EVs over to Europe.
European specs for the YU7 are yet to be confirmed, but Xiaomi has said the posh SUV can travel as much as 835 km (519 miles) on a single charge. The YU7 may also zip from 0-62mp in just 3.2 seconds.
Western journalists have already described the YU7 as “world class”, depsite the business only having produced vehicles since March 2024. This puts into context how quickly latest Chinese brands are capable of launch vehicles to rival long established original equipment manufacturers (OEMs).
Pricing for the YU7 starts at £26,150 in China, but its expected prices might be higher than that for a European version, although with a detailed eye on competitor pricing.
Motors’ latest Consumer Insight Panel of two,002 automotive buyers shows that despite relatively low levels of awareness of lots of the latest entrant, most automotive buyers would consider purchasing from a Chinese brand.
Intense competition in China’s domestic market could see even higher concentrate on the UK as an export market, with potential for price cuts and increased supply, based on a report from earlier this 12 months.
This Article First Appeared At www.am-online.com
