BRIEF: Xiaomi targets 550,000 EV deliveries this year, up 34%
Xiaomi Group (1810.HK) plans to deliver 550,000 electric vehicles in 2026, up about 34% from around 410,000 units delivered in 2025, underscoring its confidence in the continued expansion of its EV business, Chairman Lei Jun said during a livestream on Saturday.
Lei noted that Xiaomi’s original delivery target for 2025 was 350,000 vehicles, a goal that was achieved ahead of schedule in early December. With strong sales momentum from existing models and the rollout of new products, Xiaomi remains cautiously optimistic about its future deliveries.
According to CnEVPost, Xiaomi’s EV deliveries rose to 415,000 units in 2025 from 139,000 in 2024. On Jan. 1, Xiaomi announced that December deliveries exceeded 50,000 vehicles, marking a new monthly record.
Xiaomi entered the automotive industry in March 2021 and has quickly become one of China’s fastest-growing EV brands, with that business achieving its first quarterly profit in the third quarter. Its current lineup includes the SU7 electric sedan and the YU7 SUV, positioned as rivals to Tesla’s Model 3 and Model Y. The company is reportedly planning to launch four new models in 2026, including upgraded and extended-range SUVs, to further expand its product portfolio.
Xiaomi’s stock opened higher on Monday but later reversed course and closed at HK$39.26 by the midday break, down 2.53%. The stock has gained about 15% in 2025.
By Lee Shih Ta
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