Xiaomi to launch first SUV in 2025

• Published On: 09 December 2024 at 19:50

Xiaomi, a Chinese electronics giant, announced on Monday that it plans to launch its first SUV, the YU7, in June or July 2025, marking a deeper push into China's highly competitive automotive sector.

The company announced the news on China's social media platform Weibo, revealing an image of the YU7 alongside its first electric vehicle, the SU7 sedan. The two models have strikingly similar designs, indicating Xiaomi's intention to build a cohesive lineup.

The news comes after Xiaomi raised its EV delivery target for the third time in a month, aiming for 130,000 units this year to meet rising demand.

Xiaomi first entered China's crowded EV market in March, with the launch of the SU7 series, a Porsche-style sedan priced under $30,000. In October, the company expanded its product line with a luxury version of the SU7, designed to compete with Tesla's Model S Plaid.

The vehicle has also received attention for its impressive performance, which included a record lap time at the Nurburgring racetrack in Germany.

Xiaomi recently reported a 30.5% year-on-year increase in third-quarter revenue, beating analyst expectations. This increase comes as Chinese car sales soared in November, the fastest pace since January, thanks in part to government-subsidized auto trade-ins.