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Xiaomi’s Q1 EV deliveries surpass 80,000 units
Xiaomi announced Q1 2026 revenue of RMB 99.1 billion, with smart EVs contributing RMB 19.9 billion. The company delivered over 80,000 EVs in the quarter, totaling over 655,000 since March 2024. R&D spending increased by 33.4% to RMB 9 billion, reflecting the automotive sector's growth as a stable revenue source.
Key points
- Xiaomi's Q1 2026 revenue reached RMB 99.1 billion ($13.8 billion).
- Revenue from electric vehicles, AI, and innovation businesses was RMB 19.9 billion ($2.8 billion).
- The company delivered 80,856 smart electric vehicles (EVs) in Q1 2026.
- Total EV deliveries have exceeded 655,000 since March 28, 2024.
- R&D expenditure for the quarter was RMB 9 billion ($1.25 billion), a 33.4% increase year-on-year.
- The automotive sector has become a stable revenue driver for Xiaomi.
Why it matters
- The rise of EV market aligns with global trends towards sustainable transportation and innovation in the automotive sector.
- Xiaomi's significant R&D investment parallels industry shifts towards integrating AI and smart technology in vehicles.
- The competition among tech companies entering the EV space is increasing, with major players like Tesla and traditional automakers adapting.
Xiaomi's strong Q1 2026 performance underscores the growing importance of its EV division, positioning the company as a significant player in the evolving automotive market.