Xiaomi to consider selling cars outside China from 2027 after YU7 SUV racks up record sales

BEIJING: China’s Xiaomi CEO Lei Jun said the company will only consider selling its electric vehicles (EVs) outside China from 2027. He made the comment during a livestream on Wednesday, adding that Xiaomi needs to focus on meeting strong local demand for its SU7 sedan and YU7 SUV, Reuters reported.

Xiaomi’s recent launch of the YU7, its latest luxury SUV priced RMB10,000 (S$1,779) lower than Tesla’s Model Y, drew what the company called ‘miraculous’ pre-order numbers—289,000 just an hour after launch.

Reuters reported that on a monthly basis, Xiaomi’s electric SU7 sedan has outsold Tesla’s Model 3 since December, while the YU7 SUV pulled in strong buyer interest within 18 hours of its launch last Thursday.

Customers have been told they may need to wait over a year to collect their cars, prompting complaints against the company.

During the livestream, many asked about the long wait times and whether production would speed up, but Mr Lei only said, “We’ll strive to ramp up capacity,” without further details.

Xiaomi previously said 2027 would be the first year it might begin shipping its EVs overseas. /TISG

Read also: China overtakes Japan as top choice for budget-conscious Singaporeans in June