Chinese smartphone maker Xiaomi said it plans to sell its electric vehicles (EVs) in overseas markets from 2027 after finding success with its first mass-produced car at home, as it joins rivals like BYD and Geely Auto in a quest to lure global customers.
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The Beijing-based company has started studying overseas markets, including Europe, to assess gauge consumer demand and the business outlook, president Lu Weibing told Jiemian News, a financial and business media outlet, on Monday.
“I hope that we can officially start tapping foreign markets in 2027,” he said.
Lu made the remarks at this year’s MWC Barcelona trade show. He said he would visit several potential markets in Europe after the event.
Xiaomi is among a number of mainland Chinese EV assemblers and supply-chain vendors who are venturing overseas amid mounting worries about overcapacity at home.
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In March 2024, Xiaomi started selling its SU7 on the mainland, which starts from 215,900 yuan (US$29,636).
The carmaker, a competitor of Tesla, reported 135,000 deliveries between April and December of last year after garnering more than 248,000 orders. In the car industry on the mainland, a monthly delivery of 10,000 units is seen as a key measure of success.