Friday, August 21, 2026
Xiaomi EV deliveries jump 28% in Q2, but margin and price slip
Xiaomi reported August 18 that its smart EV business delivered 104,199 vehicles in the second quarter of 2026, up 28.2% year over year, on RMB23.9 billion in revenue, but gross margin fell to 19.2% from 26.4% a year earlier and revenue per vehicle declined about 9.6%. Cumulative January-July deliveries of 216,322 units sit at only 39% of Xiaomi's 550,000-unit 2026 target, leaving the September launch of the Sky Nomad EREV SUVs as a key test of whether the back half of the year can close the gap.
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