Exclusive: Xiaomi is not entering Indian EV market
Recent speculations about Xiaomi entering the Indian electric vehicle (EV) market have been put to rest. In an exclusive interview with Financial Express, Muralikrishnan B, President of Xiaomi India, confirmed that the Chinese tech giant has no immediate plans to venture into the Indian EV segment. Instead, Xiaomi is focused on reinforcing its presence in the Chinese domestic market.
Xiaomi made headlines in 2021 with its ambitious announcement to invest $10 billion in the EV sector over the next decade. This year, the company launched its first electric vehicle, priced from $30,000 onwards. The SU7 EV, recently showcased in India, is a testament to Xiaomi’s technological prowess and its intent to be a serious contender in the EV industry. However, as Muralikrishnan B stated, "Currently, the company is focused on the electric vehicle market in China and has no immediate plans to enter the Indian market." He also dismissed any prospects of a global launch for the SU7, emphasizing that Xiaomi’s primary focus remains on the Chinese market for the next three years.
Had Xiaomi decided to launch the sleek SU7 in India, it would have faced competition from models like the BYD Seal. Both vehicles are designed with sports car-like aerodynamics. The BYD Seal is available in three variants: Dynamic, Premium, and Performance. The Dynamic variant offers an output of 201 bhp and 310 Nm, while the Premium variant delivers 308 bhp and 360 Nm. The top-tier Performance model features an all-wheel-drive system powered by dual motors, producing 523 bhp and 670 Nm. The Seal’s driving range varies from 510 km to 650 km, depending on the trim and battery capacity, which ranges from 61.44 kWh to 82.56 kWh.
While Xiaomi’s decision not to enter the Indian EV market might be disappointing for some, the company’s strategic focus on the Chinese market aims to solidify its position and leverage the growing demand for electric vehicles domestically.
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