Xiaomi has officially confirmed plans to enter the European electric vehicle market in 2027. According to Bloomberg, the company aims to leverage its success in China for global expansion and directly compete with leading players such as Tesla and BYD.<\/p>\n
However, breaking into the European market will be challenging. Chinese automakers face steep tariffs imposed by the EU over allegations of state subsidies. Total import costs could reach nearly half the price of a car, raising doubts about the financial viability of expansion. In the U.S., meanwhile, the market remains virtually closed to Chinese brands due to a 100% tariff.<\/p>\n
Despite these hurdles, Xiaomi continues to ride a wave of interest in its vehicles. In the first half of the year, the company sold more than 157,000 cars, moving closer to its goal of becoming one of the world\u2019s top five automakers within the next two decades. Company founder Lei Jun previously stated that the automotive division could achieve profitability by the end of the year.<\/p>\n
Demand for the new YU7 crossover has been so strong that wait times have stretched to over a year. This has helped sustain growth even as Xiaomi\u2019s core smartphone business faces a downturn.<\/p>\n
Analysts note that Xiaomi\u2019s success in the EV sector has boosted its market capitalization by more than $120 billion over the past year. Even after a tragic accident involving one of its SU7 sedans, which intensified scrutiny of autopilot systems in China, demand for the company\u2019s vehicles remained resilient.<\/p>\n","protected":false},"featured_media":150126,"menu_order":0,"template":"","newscat":[9],"newstag":[],"issues":[],"class_list":["post-150125","news","type-news","status-publish","has-post-thumbnail","hentry","newscat-novosti"],"_links":{"self":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news\/150125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media\/150126"}],"wp:attachment":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media?parent=150125"}],"wp:term":[{"taxonomy":"newscat","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newscat?post=150125"},{"taxonomy":"newstag","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newstag?post=150125"},{"taxonomy":"issues","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/issues?post=150125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}