Xiaomi EV
Data verified as of Jul 18, 2026
Summary
Xiaomi EV is the automotive division of Xiaomi Corporation (HKEX: 1810), announced in March 2021 with a pledged ~$10B/10-year investment and led personally by founder Lei Jun, who called it his 'last major startup venture.' Its first car, the SU7 sedan, launched March 28, 2024, followed by the YU7 SUV on June 26, 2025 — the YU7 drew roughly 300,000 lock-in orders in 72 hours and was effectively sold out into 2027 at launch. Xiaomi delivered ~411,837 vehicles in 2025, beating a raised 350,000 target more than a month early, and the EV/AI segment turned its first full-year operating profit (~RMB900M) as auto revenue topped RMB100B for the first time. Momentum carried into 2026 — cumulative deliveries passed 600,000 in February (just 22 months) and H1 2026 reached 185,055 — but the EV segment swung back to a RMB3.1B operating loss in Q1 2026 (~$5,600 per car) on fewer high-margin SU7 Ultra sales and rising costs. Cars are built at a two-phase Beijing plant (~300,000/year combined), with a Beijing Phase 3 site and a planned Wuhan factory pushing toward ~1M+ annual capacity. Xiaomi has set a 550,000-unit target for 2026, secured regulatory approval to build extended-range (EREV) vehicles, and confirmed a 2027 European market entry starting with Germany.
Main Products
Xiaomi's first vehicle — a sporty mid-large electric sedan positioned against the Tesla Model 3 and rich with Xiaomi-ecosystem integration via HyperOS.
In production and delivery since March 2024; the volume backbone alongside the YU7. First-generation SU7 production wound down in early 2026 (~381,000 built) as the lineup expanded.
Tri-motor performance flagship of the SU7 line — a hypercar-rivaling electric sedan that anchors Xiaomi's high-performance halo and track credentials.
Launched February 2025; low-volume, high-margin. A prototype lapped the Nürburgring in 6:22.091 (third-fastest ever at the time); the production car ran 7:04.957.
Xiaomi's first SUV — a mid-large electric crossover priced under the Tesla Model Y that became the brand's main growth driver, outselling the SU7 roughly 3:1.
Launched June 26, 2025 with ~200,000 firm orders in 3 minutes; deliveries began July 6, 2025. Demand far outstripped supply — wait times exceeded 10 months and capacity was sold out into 2027; 152,344 delivered by end-2025.
Xiaomi's first extended-range (EREV) model — a full-size, ~5.2m six/seven-seat SUV aimed at the Li Auto L9 and Aito M9, pairing a battery pack with a gasoline range-extender generator.
Xiaomi received EREV regulatory approval in June 2026; the model is expected to launch in 2026 as part of a reported multi-model plan that includes two extended-range SUVs.
What's Next
Operations & Revenue
Xiaomi builds cars at a two-phase Beijing plant (~300,000 units/year combined; Phase 2 completed mid-2025) and is expanding via a Beijing Phase 3 site and a planned Wuhan factory toward ~1M+ annual capacity. Run-rate is consistently above 30,000/month (34,738 in June 2026), with H1 2026 at 185,055 — tracking behind the 550,000 full-year target, which needs ~60,000+/month in H2. The EV/AI segment reached its first full-year operating profit in 2025 but slipped to a RMB3.1B EV operating loss in Q1 2026. Demand still exceeds supply — YU7 wait times exceeded 10 months and capacity was sold out into 2027 at launch.
Revenue Streams
SU7 sedan family and YU7 SUV — the overwhelming majority of segment revenue (RMB19B of ~RMB19.9B in Q1 2026).
Key Metrics
Employees
60,438 (Xiaomi group, Dec 31, 2025)