Summary
- BYD is the top electric vehicle startup in China, with Xiaomi rapidly rising in EV sales
- Xiaomi raised its 2024 sales target, planning to sell 130,000 vehicles in its first year
- Xiaomi announced its new model, the YU7, its first SUV, expected to launch in June or July 2025
- The YU7 is likely to be affordable and a top seller in Europe and worldwide
- Readers can support CleanTechnica through a monthly donation to help accelerate the cleantech revolution
Article
Xiaomi, the second-largest smartphone producer in the world, has rapidly climbed up the electric vehicle (EV) sales charts in China after launching into the EV market in March. The company recently raised its 2024 sales target for the third time, aiming to sell 130,000 vehicles this year. This impressive growth and success in the EV market are similar to what was expected when Apple was rumored to be working on an EV, although that project seems to be completely over now.
In addition to raising its sales target, Xiaomi has announced its next model, the YU7, which will be the company’s first SUV. This new model is expected to hit the market in June or July 2025, following the success of Xiaomi’s current model, the SU7, which comes in at a starting price below $30,000. The YU7 is anticipated to be a semi-affordable EV for the masses, similar to the SU7 but slightly larger and more expensive.
The YU7 is predicted to be a popular choice among consumers and is likely to become one of the top-selling EVs in Europe and globally. Xiaomi’s entrance into the EV market has been met with enthusiasm and success, showcasing the potential for tech companies to make a significant impact in the automotive industry. The company’s innovative approach to EV manufacturing and sales has set it apart from traditional automakers and has positioned Xiaomi as a major player in the EV market.
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