China’s Xiaomi Corporation has declared plans to enter the European electric vehicle (EV) market by 2027, following the company’s recent entry into the EV industry in China, where it has experienced notable growth over the past year.
According to Bloomberg, Xiaomi is aiming for significant growth in its electric vehicle operations. The company’s President, Lu Weibing, shared more details about the expansion following a 31% rise in quarterly revenue, driven by the successful launch of its second EV earlier this summer.
Xiaomi made its debut in the automotive industry in 2023 with the launch of its first electric sedan, the SU7. The SU7 defied industry expectations, quickly rising to become one of the country’s top-selling electric sedans—surpassing even the Tesla Model 3, a benchmark Xiaomi had aimed to beat.
The breakthrough cemented Xiaomi’s status as a major player in China’s automotive scene. Building on that momentum, the company introduced its second vehicle, the YU7 crossover SUV, in June. The launch marked a major step toward Xiaomi’s EV ambitions, with reports indicating that over 200,000 orders were placed within just one hour of the unveiling.
Lu noted that the company is still conducting research to support its planned entry into the European market. In the second quarter of 2025, Xiaomi delivered over 81,000 vehicles—its highest quarterly output to date—yet it continues to face challenges in keeping up with demand at home.
Also in the same month, Xiaomi obtained a 50-year lease on a 485,134m² site in Beijing for projects related to smart connected vehicles and components. The deal, worth 635 million yuan, was confirmed by the Beijing Municipal Planning and Natural Resources Commission. Earlier in March, Xiaomi secured $5.5 billion through a placement and subscription agreement involving the sale and issuance of 800 million shares.
Xiaomi’s market value has grown by more than $120 billion in the past year. The company has set a target of delivering 350,000 vehicles by the end of 2025 and has already reached nearly 53% of that goal.
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