Xiaomi Plans Europe Foray in 2027 After EV Sales Gain Pace (1)

Xiaomi Corp. intends to sell its first electric vehicle in Europe by 2027, declaring plans to take on Tesla Inc. and BYD Co. globally after gaining traction with its year-old Chinese EV business.

President Lu Weibing shed more light on the company’s expansion plans after reporting a 31% rise in quarterly revenue, riding the successful launch of its second EV over the summer. That helped counter slowing demand for smartphones.

Xiaomi has previously described ambitions to go global, though it’s never specified a target market. While Europe is a common destination for Chinese EV makers seeking to tap a more ...