Xiaomi EV's 3rd model to be EREV, set to hit market in 2026, report says

CnEVPost07-09

Xiaomi will use a new business model for its third model, replacing automotive-grade parts that aren't safety-related with consumer-grade hardware, according to local media. (A Xiaomi SU7 on display ...

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Image credit: CnEVPost)\nThe third model from Xiaomi EV, the car-making arm of Xiaomi (HKG: 1810, OTCMKTS: XIACY), will be an extended-range electric vehicle (EREV) and SUV (sport utility vehicle), local media outlet 21jingji said in yesterday's report, citing multiple sources.\nThe model will target family users and will be launched in 2026, according to the report.\nXiaomi has high expectations for the EREV, which has seen two proposed iterations come out at the pre-research stage, the report said, citing a source close to Xiaomi with knowledge of the matter.\n\n | Join us on Telegram to receive news instantly\n\nMeanwhile, Xiaomi will use a new business model for its third model, replacing automotive-grade components that aren't safety-related with consumer-grade hardware, according to the report.\nFor example, Xiaomi may support cockpit-related cameras with consumer-grade chips, as this is not safety-related, the person familiar with the matter said.\nUnlike traditional car companies, Xiaomi wants to let users add more features to their vehicles after they get their cars, according to the report.\nAt its upcoming launch event in July, Xiaomi will not only unveil new phone-related products, but also reserve some time for cars, and may release some information about new models, the report said.\nXiaomi EV's second model will be an all-electric SUV, internally codenamed Lemang, to take on the Tesla Model Y, which is expected to launch in the first half of 2025, according to 21jingji.\nIts EREV model, internally codenamed Kunlun, will take on the Li Auto (NASDAQ: LI) and will launch in 2026, the report said.\nCompared to battery electric vehicles (BEVs), plug-in hybrids (PHEVs) -- including EREVs -- are seen as free of range anxiety, and therefore more accepted by the average consumer, thus giving them more room in the market.\nThe most recognizable player in the EREV space is Li Auto, and its success, especially its significant growth throughout 2023, is proof that EREVs are more accepted.\nNeta Auto, and Leapmotor are also offering EREVs, all of which initially offered only BEVs.\nIM Motors' 5th model will use extended-range technology, its co-CEO Tao Liu told local media in February.\nOn October 5, 2023, local media outlet 36kr reported that Xiaomi EV will develop EREVs and has already planned for them.\nNotably, on January 10, Xiaomi EV said on Weibo that it would have no EREVs in the coming years.\nXiaomi launched the SU7, the all-electric sedan that is its first model, on March 28. The SU7 is offered in three variants -- standard, Pro, and Max -- with a starting price of RMB 215,900 ($29,700), RMB 245,900, and RMB 299,900, respectively.\nThe model has enjoyed unprecedented success since its launch, and customers who currently order the Xiaomi SU7 will have to wait about 30 weeks for delivery, according to data monitored by CnEVPost.\nXiaomi EV would deliver more than 100,000 units in 2024 and challenge the delivery target of 120,000 units, Xiaomi management previously said.\n($1 = RMB 7.2724)\nSpy photos reveal SUV suspected to be Xiaomi's 2nd EV model\n\n\n\nBecome A CnEVPost Member\nBecome a member of CnEVPost for an ad-free reading experience and support us in producing more quality content.\n\nBecome A Member\n\n\n\nShare this post:PostTelegramReddit\">RedditPocketEmailWhatsAppPrintThreads","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.3","shortVersion":"4.26.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2450505415"}