Xiaomi's Second Electric SUV to Challenge Tesla Model Y in Q1 2025, Report Reveals

Xiaomi is gearing up to launch its second electric SUV, the MX11, in February or March 2025, according to reports. The upcoming model is positioned as a competitor to Tesla's Model Y and will likely feature Xiaomi's hallmark affordability.

Xiaomi's EV Expansion Continues With Second Model in the Works

Xiaomi has already delivered 100,000 vehicles this year, well ahead of plan, thus the release of their second EV model is definitely in the works.

Last night, local media Caijing (via CnEVPost) reported, citing a Xiaomi insider, that the second model of the electric vehicle (EV) produced by the Chinese smartphone giant is expected to be released in February or March of next year.

According to the article, this is in line with what Xiaomi founder and chairman Lei Jun has already announced, that the Xiaomi SU7 Ultra production version will be formally unveiled in March 2025.

On March 28, Xiaomi formally released its first model, the SU7. On November 18, they stated that the electric vehicle had achieved its benchmark aim of delivering 100,000 units this year.

Xiaomi Targets 2024 EV Production Growth

In addition to the previously stated challenge objective of 120,000 units, Xiaomi announced on November 18 an additional aim of 130,000 units for 2024.

The production version of the more powerful SU7 Ultra, which Xiaomi started pre-selling on October 29, cost RMB 814,900 ($112,590), which is nearly four times the beginning price of the normal SU7, which is RMB 215,900. The business has previously announced that March 2025 would be the official release date of the SU7 Ultra.

According to Caijing, another person close to Xiaomi EV has stated that the launch timeline of Xiaomi's second new model will be March 28, 2024, same like the SU7's previous launch cycle.

Xiaomi’s Second Model to Rival Tesla

An all-electric sport utility vehicle (SUV), allegedly dubbed MX11 internally, will be Xiaomi EV's second vehicle, according to the story.

Aside from sharing a chassis and a few components with the Xiaomi SU7, the car will reportedly have a distinctive appearance with sleek side lines.

The article cited industry rumors saying the vehicle will be positioned as a direct rival to the Tesla Model Y.

Factory Expansion to Bolster EV Capacity

Compared to the Tesla Model Y, which ranges in price from RMB 249,900 to RMB 354,900, the new Xiaomi SUV, if priced similarly to the Xiaomi SU7, will be priced lower, according to the report.

According to Caijing, development on the second phase of Xiaomi's electric vehicle plant has begun and will be finished by June 2025. The company is now pushing ahead with the project.

The second phase of the plant is scheduled to begin operations in July and continue until August of 2025. According to the report, Xiaomi's annual EV production capacity will reach 300,000 units.

Lei did not reveal his purpose for visiting the Xiaomi EV factory earlier today, but he did announce his arrival on Weibo before 7 am Beijing time.