Xiaomi Plans to Foray into European Market by 2027

XIAOMI INTENDS TO sell its first electric vehicle in Europe by 2027, declaring plans to take on Tesla and BYD globally after gaining traction with its year-old Chinese EV business.

- LINDA LEW

President Lu Weibing shed more light on the company's expansion plans after reporting a 31% rise in quarterly revenue, riding the successful launch of its second electric vehicle over the summer. That helped counter slowing demand for smartphones.

Xiaomi has previously described ambitions to go global, though it's never specified a target market. Europe is a common destination for Chinese carmakers like BYD seeking to tap a more lucrative arena, while governments across the continent are wooing Chinese EV and battery firms in part to mitigate impact from US tariffs.