Xiaomi is preparing to launch its second electric vehicle (EV), an SUV internally codenamed MX11. The new model is expected to hit the market in February or March next year, aiming to compete directly with Tesla’s Model Y.
The MX11 will share the same platform as Xiaomi’s first EV, SU7, but will feature a unique design with sleek side lines. Xiaomi plans to price the SUV below the Tesla Model Y, making it a competitive alternative in the electric SUV market.
Xiaomi SU7 has performed exceptionally well, exceeding its target of 100,000 deliveries in 2024 and setting a revised goal of 130,000 units. The premium SU7 Ultra, set for release in March 2025, has attracted significant attention with its high-performance features and low price tag compared to EVs with similar features and specs.
To meet growing demand, Xiaomi is accelerating the construction of the second phase of its EV factory in Beijing. The facility is expected to become operational by mid-2025, boosting the company’s production capacity to 300,000 vehicles annually.
Xiaomi’s aggressive expansion in the EV market reflects its ambition to challenge industry leaders like Tesla while offering more affordable alternatives to consumers.
