Xiaomi Drives into Europe’s EV Arena: A Challenge to Tesla and BYD

Xiaomi, a Chinese technology company, is making a bold entry into the electric vehicle market, positioning itself to compete with industry leaders Tesla and BYD. The company’s initial foray into the EV sector with the SU7 EV has generated significant interest, and the focus is now shifting towards the European electric car market. Xiaomi, having established itself in China’s EV landscape, is set to take on established automakers like Tesla and BYD. The company plans to launch its first electric car in Europe by 2027, aiming to capitalize on the growing demand for EVs. Xiaomi’s President has indicated the company’s expansion aspirations. The launch of Xiaomi’s electric car has reportedly resulted in a 31% increase in quarterly revenue, demonstrating the company’s confidence. However, Xiaomi faces challenges in the European market, particularly concerning import duties and tariffs. Selling cars in Europe could involve taxes of up to 48%, which includes a 10% basic duty and additional charges. Currently, Xiaomi offers the SU7 electric sedan, with 100,000 units produced last year. The Xiaomi SU7 Max has a 101 kWh battery pack, providing a driving range of up to 800 kilometers. The SU7 Max can accelerate from 0 to 100 km/h in 2.78 seconds, and reach 200 km/h in 10.67 seconds, with a top speed of 265 km/h. It delivers 668 bhp of output and 838 Nm of torque.