BYD Supplies Nearly 18% of Xiaomi's Batteries, Becoming Its Largest External Customer

The latest data shows that in February 2026, FinDreams Battery—a subsidiary of BYD—achieved a battery installation volume of 4,628 MWh, capturing a 17.0% market share. Of this, 49.2% was supplied internally to BYD-branded vehicles, while among external customers, Xiaomi Auto emerged as the top buyer with a procurement share of 17.9%, significantly ahead of Fangcheng Bao (10.0%), XPeng (6.6%), and Denza (4.3%). Meanwhile, CATL maintained its position as the industry leader with an installation volume of 14,366 MWh and a dominant 52.7% market share, serving a more balanced client portfolio including Li Auto, Tesla China, Geely, NIO, and Xiaomi. SVOLT and Gotion High-Tech ranked third and fourth, respectively. As Xiaomi Auto’s sales continue to rise, BYD’s proportion of external battery supply is expected to grow steadily.