Xiaomi is ready to debut its second electric vehicle codenamed MX11. If this SUV can replicate Xiaomi SU7's success, Xiaomi will be Tesla's biggest threat in China.
More than three years ago, Xiaomi decided to go all in to compete in the electric vehicle market. The result was the Xiaomi SU7, a sedan that has won the hearts of many in China.
In fact, in the five months of sales since April 2024, Xiaomi has sold more SU7 than Tesla's Model 3 in 2 of those 5 months, which is really no easy feat. In fact, none other has had that level of success.
On a cumulative basis since launch, Xiaomi has sold a total of 56.2k SU7, trailing Tesla's Model 3 by approximately 10,000 units. The above chart demonstrates how close sales have been since April.
The SU7 is hard not to like, with its dual-motor version delivering 495 kW (664 horsepower) and is capable of reaching 0-100 km/h in just 2.78 seconds.
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Add to that, an 800 km range from its 101 kWh battery enabled by a 0.195 Cd drag coefficient. Xiaomi’s HyperOS ties it all together, offering seamless integration with its mobile ecosystem.
And with a competitive price range of 215,900 to 299,900 yuan, it’s no wonder the SU7 is closing in on Tesla’s Model 3 in sales, which is priced between 231,900 to 335,900 yuan.
Chinese media now reports that the release of Xiaomi's second electric vehicle may come as soon as the end of October with the codenamed MX11 SUV.
The MX11 was first spotted in road tests as early as June of this year, followed by speculative rendering based on those spy photos.
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According to insiders, the MX11 will begin its marketing push around the Chinese New Year, with sales debuting as early as Q1 2025.
Design Elements Borrowed from Ferrari's Purosangue?
Source: Sugar Design
The renders of the MX11 have drawn plenty of comparisons with Ferrari Purosangue's design. Judging from Xiaomi's first car design, which was heavily inspired by the Porsche Taycan, the MX11 could very well borrow exterior design elements of another luxury sports vehicle.
The price of the MX11 is expected to be around 300,000 yuan, which will be directly positioned to compete with the Tesla Model Y.
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The Model Y currently sells between 40,000 to 50,000 vehicles a month in China and has constantly ranked amongst the best-selling electric vehicles.
The MX11 arrives at a time when the market is flooded with new SUVs, particularly with the latest debut of the Onvo L60 and ZEEKR 7X.
But Xiaomi’s decision to position the MX11 as a performance-focused SUV suggests they are aiming at a different audience—one that values driving experience over sheer practicality.
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SUVs like the Polestar 4 or AVATR 11, with their sportier coupe-SUV designs, haven’t seen stellar sales figures, and that’s because consumers in this space tend to prioritize space and comfort over driving dynamics.
Xiaomi’s gamble is that a well-priced, high-performance electric SUV will offer something fresh to this crowded market.
If Xiaomi can replicate the buzz it generated with the SU7 while delivering the comfort and handling expected of an SUV, the MX11 could be a Tesla Model Y "killer".