Summary
- Xiaomi is entering the electric vehicle market with high-quality, high-tech, competitive electric cars
- The company is preparing to begin exports to multiple regions outside of China
- Xiaomi is establishing an overseas business team for automotive sales and autonomous driving
- The company plans to conduct small-scale vehicle sales in multiple overseas regions to test the market response
- Xiaomi has a large retail presence abroad, with plans to open more Mi Home stores and expand its reach in the international market
Article
Xiaomi, a well-known tech company, has entered the electric vehicle (EV) market with high-quality and competitive electric cars. While the EV market in China is booming, Xiaomi is now looking to expand its sales outside of China. The company is preparing to begin exports and establish a presence in multiple regions around the world. This move comes after other tech giants like Apple and Dyson failed to enter the EV market successfully. Xiaomi’s success in China has set the stage for its potential growth in international markets.
36Kr reported that Xiaomi Motors is accelerating its overseas expansion and setting up an automotive sales business in multiple regions. The company is recruiting positions for market research, project management, and electric vehicle after-sales engineers to support its international business operations. Xiaomi is also establishing autonomous driving teams abroad to address regulatory verification and functional implementation of autonomous driving functions. This move indicates that Xiaomi is serious about expanding its presence in the global EV market.
Insiders revealed that Xiaomi plans to conduct small-scale vehicle sales in overseas regions to test the market response before a large-scale expansion. The company will utilize its Mi Home stores under the international department for overseas sales. Xiaomi’s President Lu Weibing announced a goal to open 10,000 Mi Homes overseas in 5 years, showcasing the company’s commitment to its international expansion. With more than 50% of revenue coming from independent retailers worldwide, Xiaomi’s strong retail presence could give it an edge in growing its EV business globally.
While other Chinese EV producers have struggled to establish a strong presence in Europe and other international markets, Xiaomi’s success in the smartphone market could pave the way for its EV business. The company holds 18% of the smartphone market in Europe, positioning it well to leverage its brand recognition and retail network for EV sales. Xiaomi’s entry into the international EV market presents an opportunity for the company to compete with established players like XPENG, NIO, BYD, and Zeekr. With its focus on expanding overseas sales and autonomous driving capabilities, Xiaomi is poised for significant growth in the global EV market.
Xiaomi’s move into the EV market signals a shift in the industry, with tech companies leveraging their resources to compete with traditional automakers. The company’s success in China and its plans for international expansion demonstrate the potential for tech giants to disrupt the automotive industry. Xiaomi’s entry into the global EV market will not only diversify its business but also contribute to the acceleration of the cleantech revolution. As the company prepares to export its electric cars and establish a presence in multiple regions, it will be interesting to see how Xiaomi’s brand and retail network help it gain traction in the competitive international market.
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