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Xiaomi SU7 EV May Remain Chinese Exclusive For The Time Being
Xiaomi EV, the automotive arm of the Chinese tech giant Xiaomi, has set its sights on a lofty goal: to have its vehicles driving on every street in the world. However, in a recent Q&A session on Weibo, Xiaomi EV addressed the question of whether its first model, the Xiaomi SU7, would be available globally. The company said that for now, the focus is squarely on the domestic market in China. So, while they dream of global dominance, it seems they are playing it safe in the short term.
This push into the automotive industry started in March 2021, when the company announced a substantial investment of €1.30 billion in its automotive business, with a promise of €9 billion more over the next decade. Xiaomi’s founder and CEO, Lei Jun, has expressed high hopes for the company’s first vehicle, stating that he’s in it to win it.
However, despite their aspirations, Xiaomi EV has been coy about revealing crucial details. At a tech launch event in December, the company showcased the Xiaomi SU7 and shared its specifications but remained tight-lipped about pricing. It’s essential to remember that, in the world of electric cars, pricing can make or break a brand’s success.
One interesting fact about Xiaomi’s strategy is its desire to be among the top five automakers globally within 15-20 years. Lei Jun has set the ambitious target of becoming a key player in the smart driving space by 2024. However, this path is riddled with challenges, as the industry is already dominated by established giants. Lei himself acknowledges that to succeed, Xiaomi must ship more than 10 million units annually.
