Xiaomi Auto Targets Overseas Launch in Q3–Q4 2027, Outlines Global Expansion Strategy

At Xiaomi's Q1 2024 earnings conference, Lu Weibing addressed questions regarding Xiaomi Auto's overseas expansion plans, stating that the international rollout is proceeding according to the timeline previously disclosed at the investor day and is scheduled to officially launch in Q3 or Q4 of 2027. The overall overseas strategy prioritizes entering developed markets first before expanding into developing countries; initially focusing on mid-to-high-end products before broadening to mid-range segments; and starting with right-hand-drive vehicles before introducing left-hand-drive models. The team is currently advancing preparations, including regulatory compliance, product localization, and building out a network of sales and service channels. Given that automobiles are heavily regulated products, these preparatory tasks are complex, but progress remains on track with the established plan, and further updates will be disclosed at appropriate times. According to financial results, Xiaomi Auto delivered over 80,000 vehicles in Q1. Deliveries experienced short-term fluctuations due to the discontinuation of older models and the transition to new ones, but rebounded in April to over 30,000 units. Deliveries are expected to rise significantly in Q2. The new-generation SU7 was launched in March, and as of May 6, initial pre-orders exceeded 80,000 units. Meanwhile, the YU7 series has cumulatively delivered 232,000 units since its launch 10 months ago. Additionally, Xiaomi Auto plans to introduce a new mid-to-large-size model in the second half of the year and remains confident about achieving its full-year delivery target.