Xiaomi Plans Overseas EV Expansion After Resolving China Backlogs by 2027

Xiaomi plans to prioritize fulfilling its substantial backlog of domestic electric vehicle orders before expanding internationally, with overseas sales expected to begin in 2027. The company has seen strong demand for its EV models, particularly the YU7 SUV, which received around 240,000 orders within 18 hours of launch, and the SU7 sedan, which has outsold Tesla's Model 3 monthly since December. CEO Lei Jun emphasized the need to focus on ramping up production capacity in China to address long wait times, which currently exceed a year for some customers, leading to frustration and refund requests. Despite these challenges, Xiaomi remains confident in its product positioning and aims to compete with Tesla, Nio, Xpeng, and others in the growing Chinese EV market. Plans for new factories near Beijing are underway to help meet demand. The company’s strategy reflects a cautious approach to international expansion, ensuring domestic delivery issues are resolved first.