Xiaomi is gearing up to launch its second electric vehicle (EV) model, following the success of its first model, the SU7. The new EV, internally codenamed MX11, is set to hit the market in February or March next year, according to reports from local media.
The launch of Xiaomi’s second EV comes on the heels of the company achieving its target of delivering 100,000 vehicles this year ahead of schedule. The company’s founder and chairman, Lei Jun, has previously hinted that the production version of the Xiaomi SU7 Ultra will be officially launched in March 2025.
Xiaomi officially unveiled its first EV model, the SU7, earlier this year and recently announced that it had surpassed its delivery target for 2024. The company has set a new target of 130,000 units for the year, up from the initial goal of 120,000 units.
The upcoming Xiaomi EV model, the MX11, will be an all-electric SUV that shares some components with the SU7 but features a unique design with smooth side lines. The vehicle is positioned to compete directly with the Tesla Model Y in the market.
If Xiaomi follows its pricing strategy for the SU7, the new SUV is expected to be priced below the Tesla Model Y’s range. Xiaomi is currently expanding its EV factory to increase production capacity to 300,000 units per year by mid-2025.
Lei Jun recently visited the Xiaomi EV factory, hinting at the company’s continued focus on expanding its electric vehicle business. With the launch of the MX11 on the horizon, Xiaomi is poised to make a significant impact in the EV market and further solidify its position as a key player in the industry.
