STORY: Xiaomi won’t consider selling its EVs outside China before 2027.
That was according to Chief Executive Lei Jun in a livestream Wednesday (July 2).
He says the company has to focus on domestic orders for its two models.
Until recently better known as a smartphone maker, the Chinese firm has launched its first two electric cars over little more than a year.
And it’s struggling to keep up with demand.
The YU7 SUV launched last week saw about 240,000 orders in its first 18 hours on sale.
Now Xiaomi is telling buyers they will have to wait over a year to get their car.
Meanwhile, the firm’s SU7 sedan has outsold the competing Tesla Model 3 every month since December, raising pressure on Elon Musk’s firm in the key Chinese market.
Many commentators asked Lei about the long wait times for customers during the livestream.
However, he offered few clues, saying only that Xiaomi would strive to ramp up capacity.
A Reuters review of one consumer complaints site showed hundreds of customers have demanded refunds, saying they were not told of the long wait times when placing orders.
Xiaomi plans new factories on two plots of land near its Beijing plant to help meet demand.
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