Xiaomi Auto Targets 550,000 Sales in 2026; Needs Over 52,000 Monthly After Q1’s 80,000 Deliveries

In the first quarter of 2026, Xiaomi Auto delivered approximately 80,000 vehicles cumulatively, including over 39,000 units in January, more than 20,000 in February, and over 20,000 in March. The new-generation SU7, which began deliveries on March 23, achieved over 7,000 units delivered that month. Meanwhile, the YU7 model delivered 37,869 units in January and 20,196 units in February. Xiaomi Auto has set an annual sales target of 550,000 vehicles for 2026, requiring average monthly deliveries of over 52,000 units for the remaining nine months. Previously, in December 2025, Xiaomi Auto set a record with monthly deliveries exceeding 50,000 units. To support its delivery targets, Xiaomi Auto is accelerating capacity expansion and channel development. Phase I and II of its Beijing factory are operating at full capacity, with a combined annual output of approximately 300,000 to 330,000 vehicles. Phase III commenced production after the 2026 Lunar New Year, adding a designed annual capacity of 150,000 units. The Wuhan factory is scheduled to begin operations in May 2026, also with an annual capacity of 150,000 vehicles. Overall, Xiaomi Auto’s total annual production capacity is expected to exceed 600,000 units. On the supply chain front, Xiaomi Auto is advancing in-house development of electric motors and intelligent driving chips and plans to build a battery plant with an annual capacity of 15 GWh. This battery project is jointly funded by CATL, BAIC, Jingneng Group, and Xiaomi Auto. Located in Beijing’s Yizhuang area adjacent to Xiaomi’s vehicle manufacturing facility, it is designated as a key municipal project for Beijing in 2024. As of March 31, 2026, Xiaomi Auto operated 492 retail stores across 143 cities nationwide and had established 274 service centers in 160 cities. The company aims to reach 500 stores by the end of 2026, with a strategic focus on expanding into tier-3 and tier-4 cities. At the industry level, China’s new energy passenger vehicle retail penetration rate reached 52.9% in March 2026—the first time it surpassed that of internal combustion engine vehicles in a single month—marking the market’s entry into a phase of competition within a stagnant total volume. During the same period, NIO, Li Auto, XPeng, and Huawei’s Harmony Intelligent Mobility launched multiple new models, intensifying competition in the RMB 200,000–300,000 price segment. Additionally, media reports indicated that Song Gang, former senior executive at Tesla’s Shanghai Gigafactory, has joined Xiaomi Auto as plant manager. Xiaomi has not denied these reports. Xiaomi Auto’s delivery performance in the second quarter of 2026 will be critical in determining whether it can achieve its full-year target.