Xiaomi’s second EV model will compete directly with the Tesla Model Y

The launch of Xiaomi’s second electric vehicle is expected to hit the market in February of March next year and will be positioned as a direct competitor to the Tesla Model Y, according to local media 

Xiaomi officially launched its first model, the SU7, on March 28

The second model of Xiaomi EV, the car-making arm of the Chinese smartphone giant, is on agenda and coulde be launched in Q1 2025, according to local media. Xiaomi's second EV model is expected to hit the market in February or March next year, internally codenamed MX11, and will directly compete with the Tesla Model Y. What is certain is that Xiaomi EV's second vehicle is an all-electric SUV: the vehicle will share the platform and some components with the Xiaomi SU7, but has a unique design, the report noted. The car will be positioned as a direct competitor to Tesla Model Y. If Xiaomi's pricing strategy for the Xiaomi SU7 is followed, the new Xiaomi SUV will be priced below the Tesla Model Y's 249,900 yuan to 354,900 yuan ($34.471-48.954) price tag. Another source close to Xiaomi EV said that the launch schedule of Xiaomi's second new model will be in line with the SU7's previous launch cadence, which happened to be March 28, 2024. Xiaomi officially launched its first model, the SU7, on March 28 and announced on November 18 that the electric sedan had reached its benchmark target of delivering 100,000 units this year. Xiaomi also announced a new 2024 target of 130,000 units on November 18, up from the previously mentioned target of 120,000 units.