Xiaomi could launch its second EV early 2025
The SU7, available in China for the equivalent of less than 30,000 euros, is a real surprise story: by mid-November, the model had already reached the 100,000 car delivery mark. By the end of the year, this figure is expected to rise to 130,000 units. As a result, Xiaomi’s new electric car business is already generating substantial sales. Xiaomi reported sales of 9.5 billion yuan (1.24 billion euros) for its electric car business in the third quarter of 2024. That is a 52.1 per cent increase compared to the previous quarter, in which sales amounted to 6.2 billion yuan (around 809 million euros).
There have been media reports for some time that Xiaomi intends to launch further vehicles on the market shortly. One model has already been confirmed. The SU7 Ultra is a sports car derivative of the SU7, which has recently become available for pre-order in China and is expected to cost the equivalent of 106,000 euros or more.
Now, the rumours about another model are also becoming more concrete. Internally codenamed MX11, the vehicle is said to be an electric SUV. It is set to launch as early as February or March 2025, CN EV Post reports, citing local media outlet Caijing. That would mean the EV would hit the road around the same time as the SU7 Ultra, deliveries of which are due to start in March.
The report also states that the MX11 is intended to go head to head with Tesla’s Model Y. With that in mind, the MX11 could sell for less than the equivalent of the 33,000 euros Tesla charges for the basic version of the Model Y in China.
According to a document leaked in September, Bosch will likely be one of the suppliers for the MX11 and contribute its ‘Dynamic Power Braking’ (DPB) to the electric SUV. According to the document, Bosch will also contribute its ‘Intelligent Power Braking’ technology for an even larger SUV from Xiaomi, which is due to be released in 2026 and is codenamed N3.
Xiaomi is currently pushing ahead with the construction of the second phase of its electric car factory in the greater Beijing area, which will be built in two shifts and should be completed by June 2025, according to Caijing. This second phase of the factory is scheduled to go into operation in July or August 2025. According to the report, it would give Xiaomi a production capacity of 300,000 vehicles per year.
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