Xiaomi’s Q1 EV deliveries surpass 80,000 units
Xiaomi released its financial results for the first quarter of 2026 on Tuesday, reporting total revenue of RMB 99.1 billion ($13.8 billion). Revenue from its smart electric vehicle, AI, and other innovation businesses reached RMB 19.9 billion ($2.8 billion). Xiaomi’s R&D spending for the quarter totaled RMB 9 billion ($1.25 billion), up 33.4% year-on-year. The automotive business has become one of Xiaomi’s stable revenue drivers. In the first quarter, Xiaomi delivered 80,856
Xiaomi has announced its first-quarter financial results for 2026, revealing significant growth in its electric vehicle segment. The company reported that its smart electric vehicle, AI, and other innovation ventures generated RMB 19.9 billion in revenue. During the first quarter, Xiaomi successfully delivered over 80,000 smart electric vehicles, contributing to a substantial increase in overall revenue. The company also highlighted a year-on-year increase in research and development spending, indicating a strong commitment to innovation in its burgeoning automotive sector.
This demonstrates Xiaomi's increasing influence and competitiveness in the rapidly expanding electric vehicle market, challenging established automakers and signaling a shift in consumer preferences.
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