Xiaomi might be best known for smartphones, but its electric vehicle (EV) ambitions are getting real. The company has now set its sights on going global by 2027, following the success of its first electric car, the SU7, in China.
Xiaomi launched the SU7 in March 2024, with prices starting at 215,900 yuan ($29,636). Competing directly with Tesla, it quickly gained traction, delivering 135,000 units in just eight months after receiving over 248,000 orders. That’s a big deal—hitting over 10,000 monthly deliveries is a key benchmark in the industry.
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Even Ford CEO Jim Farley couldn’t ignore Xiaomi’s new car. Speaking on The Fully Charged Podcast, he admitted:
“I don’t like talking about the competition so much, but I drive the Xiaomi. We flew one from Shanghai to Chicago, and I’ve been driving it for six months now, and I don’t want to give it up.”
If that’s not a strong endorsement, what is?
At MWC Barcelona 2025, Xiaomi president Lu Weibing confirmed that the company has already started evaluating international markets, especially Europe. His goal?
“I hope that we can officially start tapping foreign markets in 2027.”
But Xiaomi isn’t rushing things. Lu made it clear that getting a strong foothold in China comes first, explaining:
“If a Chinese carmaker can’t secure a good position in the domestic market, it will struggle to expand overseas.”
And Xiaomi isn’t slowing down. The company recently launched the premium SU7 Ultra—priced at 529,900 yuan ($73,000)—and is aiming to sell 10,000 units of it. Meanwhile, CEO Lei Jun has predicted that Xiaomi will deliver over 300,000 EVs in 2025, with a new YU7 SUV expected to debut later this year.
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China’s EV Boom—and the Roadblocks Ahead
China dominates the global EV market, with 10.9 million electric and plug-in hybrid cars sold in 2024, a 40.7% increase over the previous year, according to the China Passenger Car Association. But there are still challenges ahead:
- Too many factories, not enough demand: Only half of China’s EV production facilities are running at full capacity because companies have expanded so quickly.
- High tariffs on exports: Chinese EVs face 17–35.3% import duties in the EU and an even steeper 100% tariff in the US, making global expansion tricky.
- Profitability struggles: While big names like BYD, Li Auto, and Aito are turning a profit, many other Chinese EV brands are still losing money.
Xiaomi has momentum on its side, but it still has hurdles to clear before it can go global. Can it navigate tariffs, regulations, and competition from legacy automakers? Time will tell. But with a strong start in China, industry recognition, and a rapidly growing EV lineup, Xiaomi is shaping up to be a major player in the global EV market by 2027.