Xiaomi to Enter European EV Market in 2027 Amid Strong Domestic Demand 小米 2027 年进军欧洲电动汽车市场，国内需求旺盛

Xiaomi plans to officially enter Europe’s EV market in 2027, its first overseas EV market, as announced by President Lu Weibing on an earnings call. It’s now in research and preparation, with a European-registered SU7 Ultra tested earlier. Domestically, Xiaomi faces shortages—SU7/YU7 have 41/58-week waits—but delivered a record 81,302 EVs in Q2 2025 (up 197.73% YoY). Q2 EV revenue hit RMB20.6b, with innovative businesses (EVs, AI) seeing 26.4% gross margin (up YoY/QoQ) and narrower operating loss. It may turn profitable soon but has RMB30b+ cumulative losses.

小米总裁卢伟冰在财报电话会议上宣布，公司计划于 2027 年正式进军欧洲电动汽车市场，这将是其初次登录海外电动汽车市场。目前小米正处于相关调研和准备阶段，此前已对一辆欧洲注册的 SU7 Ultra 进行测试。在国内市场，小米面临交付短缺问题 ——SU7 和 YU7 车型的等待时间分别为 41 周和 58 周，但 2025 年第二季度仍交付了创纪录的 81302 辆电动汽车（同比增长 197.73%）。该季度小米电动汽车收入达 206 亿元人民币，包含电动汽车和人工智能在内的创新业务毛利率达 26.4%（同比、环比均上升），运营亏损有所收窄。小米电动汽车业务有望很快实现盈利，但过去三年超 300 亿元人民币的投资使其仍存在巨额累计亏损。