Xiaomi to Launch First Electric SUV, Codenamed MX11, Next Spring
Xiaomi is preparing to launch its second electric vehicle, a crossover SUV codenamed MX11, as early as February or March next year. According to sources cited by Chinese media outlet Caijing, the new model will directly compete with Tesla’s Model Y and utilize the same platform as Xiaomi’s inaugural SU7 sedan. The report suggests that Xiaomi may employ its characteristic aggressive pricing strategy, potentially offering the SUV at a significantly lower price point than Tesla’s China-made counterparts, which start above RMB 249,900. This announcement coincides with CEO Lei Jun’s revelation that Xiaomi has already met its annual delivery target of 100,000 SU7 units ahead of schedule, with an additional 30,000 units expected before year-end. Furthermore, Xiaomi reported stronger-than-anticipated third-quarter financial results, with total revenue reaching RMB 92.5 billion. Notably, the emerging EV division now contributes over 10% to the company's overall revenue, highlighting the rapid integration and success of its automotive venture within the broader tech conglomerate.
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Xiaomi to Launch First Electric SUV, Codenamed MX11, Next Spring
Xiaomi is preparing to launch its second electric vehicle, a crossover SUV codenamed MX11, as early as February or March next year. According to sources cited by Chinese media outlet Caijing, the new model will directly compete with Tesla’s Model Y and utilize the same platform as Xiaomi’s inaugural SU7 sedan. The report suggests that Xiaomi may employ its characteristic aggressive pricing strategy, potentially offering the SUV at a significantly lower price point than Tesla’s China-made counterparts, which start above RMB 249,900. This announcement coincides with CEO Lei Jun’s revelation that Xiaomi has already met its annual delivery target of 100,000 SU7 units ahead of schedule, with an additional 30,000 units expected before year-end. Furthermore, Xiaomi reported stronger-than-anticipated third-quarter financial results, with total revenue reaching RMB 92.5 billion. Notably, the emerging EV division now contributes over 10% to the company's overall revenue, highlighting the rapid integration and success of its automotive venture within the broader tech conglomerate.
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