Xiaomi targets Europe sales by 2027
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The move marks the first overseas foray for Xiaomi's cars, which have proved enormously popular in China and wowed Western auto executives.
Xiaomi disrupted China's already-hot EV market. Now, the company is planning to export vehicles to other markets, including Europe.
Xiaomi plans to enter Europe’s EV market by 2027 and compete with Tesla and BYD. The company expects its car division to become profitable by the end of this year. BMW and F1 veterans have joined Xiaomi to develop its new European R&D center.
Xiaomi Corp. intends to sell its first electric vehicle in Europe by 2027, declaring plans to take on Tesla Inc. and BYD Co. globally after gaining traction with its year-old Chinese EV business.